Netflix (NASDAQ:NFLX) Shares Down 1.2%

Netflix, Inc. (NASDAQ:NFLX) fell 1.2% during mid-day trading on Wednesday . The company traded as low as $694.50 and last traded at $698.15. 632,584 shares were traded during trading, a decline of 83% from the average session volume of 3,721,037 shares. The stock had previously closed at $706.91.

Analysts Set New Price Targets

A number of analysts have commented on NFLX shares. JPMorgan Chase & Co. boosted their price objective on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Tuesday, July 30th. China Renaissance initiated coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. KeyCorp lifted their price target on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI raised their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $685.29.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day moving average price is $660.64 and its 200 day moving average price is $639.15. The stock has a market capitalization of $298.39 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 EPS. Sell-side analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,798 shares of company stock valued at $129,552,672. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. lifted its position in Netflix by 231.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 5,805 shares of the Internet television network’s stock worth $3,918,000 after buying an additional 4,054 shares during the last quarter. Lazari Capital Management Inc. raised its holdings in shares of Netflix by 3.2% in the 2nd quarter. Lazari Capital Management Inc. now owns 3,931 shares of the Internet television network’s stock valued at $2,653,000 after purchasing an additional 123 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Netflix in the second quarter worth approximately $47,894,000. NCP Inc. lifted its holdings in Netflix by 5.4% during the second quarter. NCP Inc. now owns 10,491 shares of the Internet television network’s stock worth $7,080,000 after buying an additional 535 shares during the period. Finally, Brown Financial Advisors bought a new stake in Netflix during the 2nd quarter valued at $1,201,000. 80.93% of the stock is currently owned by 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.