Netflix (NASDAQ:NFLX) Shares Down 0.6% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price traded down 0.6% on Tuesday . The stock traded as low as $833.31 and last traded at $835.18. 639,321 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 2,761,806 shares. The stock had previously closed at $840.29.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NFLX. Piper Sandler raised their price objective on shares of Netflix from $840.00 to $950.00 and gave the company an "overweight" rating in a report on Tuesday. Benchmark raised their target price on Netflix from $555.00 to $720.00 and gave the stock a "sell" rating in a research note on Friday, January 3rd. Citigroup lifted their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 8th. Finally, Oppenheimer raised their price objective on Netflix from $825.00 to $1,065.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $841.27.

Netflix Stock Down 1.4 %

The company has a 50-day moving average of $881.04 and a two-hundred day moving average of $755.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $354.11 billion, a PE ratio of 46.88, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock worth $131,030,268 over the last ninety days. Company insiders own 1.76% of the company's stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the company. Thoroughbred Financial Services LLC lifted its stake in shares of Netflix by 99.1% in the second quarter. Thoroughbred Financial Services LLC now owns 1,802 shares of the Internet television network's stock worth $1,216,000 after buying an additional 897 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Netflix during the second quarter worth approximately $145,000. Brown Brothers Harriman & Co. boosted its stake in Netflix by 11.6% during the second quarter. Brown Brothers Harriman & Co. now owns 4,142 shares of the Internet television network's stock worth $2,795,000 after buying an additional 431 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of Netflix during the 2nd quarter worth $82,000. Finally, Angeles Investment Advisors LLC increased its position in Netflix by 19.3% during the second quarter. Angeles Investment Advisors LLC now owns 1,099 shares of the Internet television network's stock worth $742,000 after purchasing an additional 178 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.