Netflix (NASDAQ:NFLX) Shares Down 1.3% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price dropped 1.3% on Wednesday following insider selling activity. The stock traded as low as $973.74 and last traded at $983.92. Approximately 1,371,516 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,478,515 shares. The stock had previously closed at $997.28.

Specifically, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Macquarie lifted their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted 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. Wedbush reaffirmed an "outperform" rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, FBN Securities initiated coverage on Netflix in a research note on Thursday. They issued an "outperform" rating and a $1,165.00 price target on the stock. Ten equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,021.02.

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Netflix Stock Down 2.4 %

The stock has a 50-day moving average of $971.74 and a 200 day moving average of $869.42. The company has a market capitalization of $389.94 billion, a PE ratio of 45.91, a P/E/G 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.

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

Institutional Trading of Netflix

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Netflix by 13.3% in 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 during the last quarter. Tradition Wealth Management LLC increased its holdings in Netflix by 11.1% in the 3rd quarter. Tradition Wealth Management LLC now owns 859 shares of the Internet television network's stock worth $609,000 after acquiring an additional 86 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in Netflix by 5.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 681 shares of the Internet television network's stock valued at $483,000 after acquiring an additional 36 shares during the period. Erste Asset Management GmbH purchased a new stake in Netflix during the third quarter valued at about $145,252,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Netflix by 776.3% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 333 shares of the Internet television network's stock worth $236,000 after purchasing an additional 295 shares during the period. Institutional investors own 80.93% of the company's stock.

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.