Netflix (NASDAQ:NFLX) Stock Price Down 0.2% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX)’s share price traded down 0.2% during trading on Thursday . The company traded as low as $723.29 and last traded at $725.88. 654,189 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,645,896 shares. The stock had previously closed at $727.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus boosted their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Citigroup raised their price objective on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group raised their price target on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Barclays reissued an “underweight” rating and set a $550.00 price objective on shares of Netflix in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $702.79.

Netflix Stock Performance

The company has a 50-day moving average of $686.60 and a 200 day moving average of $651.18. The firm has a market capitalization of $311.52 billion, a PE ratio of 50.16, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. DigitalBridge Group Inc. boosted its stake in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc bought a new stake in Netflix during the 1st quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd grew its holdings in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Netflix in the 4th quarter valued at approximately $9,513,000. Institutional investors own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.