Netflix (NASDAQ:NFLX) Shares Down 0.8%

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $702.37 and last traded at $703.37. 899,650 shares traded hands during trading, a decline of 76% from the average session volume of 3,688,726 shares. The stock had previously closed at $709.27.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Redburn Atlantic increased their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Jefferies Financial Group raised their price objective on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities restated a “neutral” rating and set a $635.00 price objective on shares of Netflix in a research report on Friday, September 20th. The Goldman Sachs Group upped their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $686.03.

Netflix Price Performance

The company has a market capitalization of $305.73 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.44 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $670.86 and a 200 day moving average price of $645.58.

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

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,163,000. The disclosure for this sale can be found here. Insiders have sold 179,494 shares of company stock worth $118,230,884 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake 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 in the last quarter. VitalStone Financial LLC raised its holdings 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 buying an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.