Netflix (NASDAQ:NFLX) Shares Down 0.1% After Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) traded down 0.1% during trading on Wednesday after KeyCorp lowered their price target on the stock from $1,100.00 to $1,000.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as low as $854.40 and last traded at $869.68. Approximately 1,511,505 shares traded hands during trading, a decline of 59% from the average session volume of 3,643,382 shares. The stock had previously closed at $870.40.

NFLX has been the topic of several other research reports. Canaccord Genuity Group upgraded shares of Netflix from a "hold" rating to a "buy" rating and lifted their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. BMO Capital Markets reissued an "outperform" rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Finally, Guggenheim restated a "buy" rating and set a $1,100.00 target price on shares of Netflix in a research note on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,017.31.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last three months. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC boosted its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank purchased a new stake in Netflix during the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 0.3 %

The company's 50 day simple moving average is $960.09 and its two-hundred day simple moving average is $884.26. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $392.80 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter last year, the firm earned $2.11 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.