Netflix (NASDAQ:NFLX) Shares Down 1.7% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares traded down 1.7% during mid-day trading on Monday . The stock traded as low as $696.43 and last traded at $707.73. 1,479,388 shares changed hands during trading, a decline of 60% from the average session volume of 3,661,810 shares. The stock had previously closed at $719.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NFLX shares. JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Pivotal Research increased their price objective on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Jefferies Financial Group upped their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Citigroup lifted their price objective on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and raised their target price for the company from $650.00 to $800.00 in a report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $691.76.

Netflix Stock Down 2.5 %

The company has a 50 day simple moving average of $676.85 and a two-hundred day simple moving average of $648.20. 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 firm has a market capitalization of $302.48 billion, a P/E ratio of 49.16, a P/E/G ratio of 1.44 and a beta of 1.26.

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

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was 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 approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently bought and sold shares of the stock. DigitalBridge Group Inc. increased its stake in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc acquired a new position in shares of Netflix during the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its holdings in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Netflix during the fourth quarter worth $9,513,000. Hedge funds and other 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.