Netflix (NASDAQ:NFLX) Stock Price Down 1.9% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares dropped 1.9% on Thursday . The stock traded as low as $1,015.59 and last traded at $1,023.25. Approximately 943,970 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 4,079,264 shares. The stock had previously closed at $1,043.33.

Analysts Set New Price Targets

Several brokerages have recently commented on NFLX. Arete Research upgraded shares of Netflix to a "hold" rating in a research report on Thursday, January 23rd. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Argus raised their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Finally, KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,021.70.

Netflix Stock Down 2.1 %

The company's fifty day moving average price is $940.55 and its 200-day moving average price is $818.44. The stock has a market cap of $429.11 billion, a P/E ratio of 50.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.27. 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 released 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 during the quarter, compared to analyst estimates 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 last year, the business earned $2.11 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 2,682 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after purchasing an additional 171,712 shares in the last quarter. FMR LLC raised its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after purchasing an additional 375,234 shares in the last quarter. State Street Corp raised its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. 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.