Netflix (NASDAQ:NFLX) Stock Price Down 3.1% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares were down 3.1% during trading on Monday . The company traded as low as $861.68 and last traded at $863.28. Approximately 1,990,818 shares traded hands during trading, a decline of 41% from the average daily volume of 3,348,886 shares. The stock had previously closed at $891.11.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NFLX. Citigroup increased their price objective on Netflix from $725.00 to $920.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and upped their target price for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Phillip Securities lowered shares of Netflix from a "hold" rating to a "moderate sell" rating in a research report on Friday, January 24th. Seaport Res Ptn raised shares of Netflix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Finally, Benchmark raised shares of Netflix from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,014.26.

Netflix Stock Up 3.3 %

The stock has a market capitalization of $382.89 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. 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 business's 50-day moving average is $949.66 and its two-hundred day moving average is $845.26.

Remove Ads

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 for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company's stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 35,868 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the stock. Swedbank AB grew its holdings in shares of Netflix by 1.8% in the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network's stock valued at $329,958,000 after purchasing an additional 8,024 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of Netflix by 7.0% during the third quarter. Patten & Patten Inc. TN now owns 1,932 shares of the Internet television network's stock worth $1,370,000 after buying an additional 127 shares during the period. Everhart Financial Group Inc. raised its holdings in Netflix by 17.9% in the third quarter. Everhart Financial Group Inc. now owns 3,128 shares of the Internet television network's stock valued at $2,219,000 after acquiring an additional 475 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Netflix by 11.1% in the third quarter. Apollon Wealth Management LLC now owns 16,952 shares of the Internet television network's stock worth $12,023,000 after acquiring an additional 1,691 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.