Netflix (NASDAQ:NFLX) Trading Down 1% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) shares were down 1% during trading on Wednesday . The company traded as low as $889.47 and last traded at $891.32. Approximately 1,871,105 shares were traded during trading, a decline of 48% from the average daily volume of 3,583,552 shares. The stock had previously closed at $900.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price target (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Benchmark reiterated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $807.70.

Netflix Stock Down 0.5 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $861.40 and its two-hundred day moving average price is $743.72. The firm has a market cap of $379.04 billion, a P/E ratio of 50.18, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. This represents a 24.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 114,893 shares of company stock worth $93,859,830 over the last 90 days. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the 3rd quarter worth approximately $37,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

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.