Netflix (NASDAQ:NFLX) Shares Down 1.2% Following Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares were down 1.2% during trading on Thursday 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 $924.13 and last traded at $933.69. Approximately 1,213,605 shares changed hands during trading, a decline of 67% from the average daily volume of 3,663,434 shares. The stock had previously closed at $945.47.

A number of other equities analysts have also weighed in on the company. Macquarie upped their target price on Netflix from $965.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Pivotal Research upped their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. FBN Securities assumed coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price on the stock. Barclays raised shares of Netflix from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Finally, Moffett Nathanson raised shares of Netflix from a "neutral" rating to a "buy" rating and increased their price target for the stock from $850.00 to $1,100.00 in a report on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 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, Director Jay C. Hoag sold 617 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 over the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock valued at $1,200,485,000 after buying an additional 198,148 shares in the last quarter. M&T Bank Corp grew its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after acquiring an additional 1,684 shares during the last quarter. McIlrath & Eck LLC increased its holdings in shares of Netflix by 13.8% during the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network's stock valued at $175,000 after acquiring an additional 30 shares in the last quarter. Advisory Resource Group raised its position in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network's stock worth $1,238,000 after purchasing an additional 12 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Netflix by 356.5% in the 3rd quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network's stock worth $9,844,000 after purchasing an additional 10,839 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 0.5 %

The company has a market capitalization of $394.78 billion, a PE ratio of 46.54, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company's 50-day moving average is $960.09 and its 200 day moving average is $885.47.

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

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.