Netflix (NASDAQ:NFLX) Shares Down 0.3%

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 0.3% during trading on Friday . The company traded as low as $699.88 and last traded at $702.40. Approximately 783,418 shares traded hands during trading, a decline of 79% from the average daily volume of 3,720,605 shares. The stock had previously closed at $704.32.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upped their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. KeyCorp upped their price objective on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Guggenheim upped their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, TD Cowen upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $302.95 billion, a PE ratio of 48.74, a PEG ratio of 1.40 and a beta of 1.26. The company’s 50-day simple moving average is $661.93 and its 200 day simple moving average is $639.96.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period last year, the business earned $3.29 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Denver PWM LLC acquired a new stake in Netflix during the 2nd quarter worth $25,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC grew its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter valued at about $32,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.