Netflix (NASDAQ:NFLX) Shares Down 2.5% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) dropped 2.5% on Monday . The stock traded as low as $900.59 and last traded at $910.95. Approximately 1,226,365 shares traded hands during trading, a decline of 66% from the average daily volume of 3,574,981 shares. The stock had previously closed at $933.85.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research reports. Needham & Company LLC raised their target price on Netflix from $800.00 to $1,150.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. UBS Group set a $1,000.00 target price on Netflix in a research report on Monday, March 24th. Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded shares of Netflix from a "neutral" rating to a "buy" rating and boosted their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,023.74.

Netflix Stock Down 2.0 %

The stock's 50 day moving average is $974.03 and its 200 day moving average is $873.22. The company has a market capitalization of $392.27 billion, a PE ratio of 46.25, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 earnings per share. The business's quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company's stock, 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 sold a total of 280,676 shares of company stock worth $273,515,672 in the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of large investors have recently modified their holdings of NFLX. Central Pacific Bank Trust Division raised its stake in Netflix by 0.8% in the first quarter. Central Pacific Bank Trust Division now owns 2,470 shares of the Internet television network's stock valued at $2,303,000 after purchasing an additional 20 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Netflix by 68.1% during the 1st quarter. Versant Capital Management Inc now owns 1,116 shares of the Internet television network's stock valued at $1,041,000 after buying an additional 452 shares in the last quarter. Adirondack Trust Co. raised its position in shares of Netflix by 1.9% during the 1st quarter. Adirondack Trust Co. now owns 926 shares of the Internet television network's stock valued at $864,000 after buying an additional 17 shares in the last quarter. Park National Corp OH grew its position in Netflix by 27.0% in the first quarter. Park National Corp OH now owns 310 shares of the Internet television network's stock worth $289,000 after acquiring an additional 66 shares in the last quarter. Finally, Waller Financial Planning Group Inc. grew its position in Netflix by 2.0% in the first quarter. Waller Financial Planning Group Inc. now owns 627 shares of the Internet television network's stock worth $585,000 after acquiring an additional 12 shares in the last quarter. Institutional investors 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.