Netflix (NASDAQ:NFLX) Stock Price Down 1.6%

Netflix, Inc. (NASDAQ:NFLX) shares dropped 1.6% during mid-day trading on Friday . The company traded as low as $553.19 and last traded at $555.73. Approximately 1,612,819 shares were traded during trading, a decline of 64% from the average daily volume of 4,480,249 shares. The stock had previously closed at $564.80.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America lifted their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Barclays lifted their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. DZ Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a report on Thursday, January 25th. Rosenblatt Securities reduced their target price on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Performance

The company has a market cap of $241.83 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 1.36 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $604.99 and its 200 day simple moving average is $518.24.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 EPS. As a group, analysts anticipate that Netflix, Inc. will post 18.13 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. Insiders sold 154,573 shares of company stock worth $89,548,241 in the last 90 days. Insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors boosted its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares during the period. Jennison Associates LLC boosted its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Norges Bank purchased a new position in shares of Netflix during the 4th quarter worth approximately $2,558,598,000. Northern Trust Corp boosted its position in shares of Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after buying an additional 78,298 shares during the period. Hedge funds and other institutional investors 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.