Netflix (NASDAQ:NFLX) Shares Down 0.8% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price fell 0.8% during mid-day trading on Monday . The stock traded as low as $1,082.62 and last traded at $1,093.10. 1,309,624 shares were traded during trading, a decline of 65% from the average session volume of 3,699,246 shares. The stock had previously closed at $1,101.53.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Rosenblatt Securities raised their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Arete Research raised Netflix to a "hold" rating in a research report on Thursday, January 23rd. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Sanford C. Bernstein raised shares of Netflix from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,072.12.

Netflix Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $468.49 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The stock has a 50-day moving average of $955.92 and a two-hundred day moving average of $906.10.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at $12,700,583. The trade was a 88.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 2,682 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,855 shares of company stock valued at $267,474,816. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently added to or reduced their stakes in NFLX. Nordea Investment Management AB lifted its stake in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co increased its stake in shares of Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC acquired a new stake in Netflix in the fourth quarter worth about $733,000. Sigma Planning Corp raised its holdings in Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock worth $4,966,000 after purchasing an additional 386 shares during the last quarter. Finally, Quilter Plc lifted its holdings in Netflix by 8.2% in the fourth quarter. Quilter Plc now owns 143,757 shares of the Internet television network's stock valued at $128,133,000 after buying an additional 10,946 shares during the period. Institutional investors and hedge funds 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.

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