Netflix (NASDAQ:NFLX) Trading Down 2.3% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares traded down 2.3% during trading on Tuesday . The company traded as low as $1,027.20 and last traded at $1,034.48. 1,513,512 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,144,861 shares. The stock had previously closed at $1,058.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Arete Research raised Netflix to a "hold" rating in a report on Thursday, January 23rd. Macquarie increased their price target on Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Guggenheim increased their price target on Netflix from $950.00 to $1,100.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Benchmark raised Netflix from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,021.70.

Netflix Trading Down 2.1 %

The company has a market capitalization of $429.11 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 2.16 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $938.86 and a 200-day moving average price of $815.63.

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, topping analysts' consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for 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%. Netflix'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 earned $2.11 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock valued at $289,856,164 over the last three months. Company insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. WNY Asset Management LLC bought a new stake in Netflix during the fourth quarter valued at about $237,000. Putney Financial Group LLC bought a new position in Netflix during the fourth quarter worth about $343,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Netflix during the fourth quarter worth approximately $58,000. AlphaCore Capital LLC acquired a new stake in shares of Netflix during the fourth quarter worth approximately $274,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Netflix by 28.3% during the fourth quarter. Mackenzie Financial Corp now owns 290,776 shares of the Internet television network's stock worth $259,174,000 after buying an additional 64,082 shares in the last quarter. 80.93% of the stock is 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.