Netflix (NASDAQ:NFLX) Stock Price Down 0.6% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) fell 0.6% during trading on Wednesday . The company traded as low as $753.63 and last traded at $754.68. 346,112 shares changed hands during trading, a decline of 91% from the average session volume of 3,701,214 shares. The stock had previously closed at $759.44.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. Citigroup increased their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Pivotal Research raised their target price on shares of Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Canaccord Genuity Group raised their target price on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. UBS Group raised their target price on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Stock Performance

The business has a 50 day simple moving average of $711.57 and a 200 day simple moving average of $662.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $324.05 billion, a PE ratio of 43.16, a PEG ratio of 1.45 and a beta of 1.26.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,810 shares of company stock valued at $142,049,542. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new stake in Netflix in the second quarter valued at approximately $25,000. Proffitt & Goodson Inc. increased its position in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Netflix during the 2nd quarter worth approximately $38,000. Hedge funds and other 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.