Netflix (NASDAQ:NFLX) Shares Down 1.6%

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 1.6% during mid-day trading on Friday . The stock traded as low as $553.19 and last traded at $555.73. Approximately 1,612,819 shares traded hands during mid-day 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 have recently issued reports on NFLX shares. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Macquarie increased their target price on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. The Goldman Sachs Group increased their target price on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Evercore ISI upped their price target on Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Trading Down 0.6 %

The firm has a market cap of $241.83 billion, a P/E ratio of 38.95, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The firm has a fifty day moving average of $604.54 and a 200-day moving average of $520.48.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. Equities research analysts forecast that Netflix, Inc. will post 18.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $2,203,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,573 shares of company stock valued at $89,548,241. Insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently modified their holdings of the company. Capital World Investors increased 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 valued at $5,718,265,000 after purchasing an additional 78,320 shares during the period. Jennison Associates LLC increased 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 valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Norges Bank acquired a new position in shares of Netflix during the 4th quarter valued at $2,558,598,000. Northern Trust Corp increased 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 valued at $1,749,712,000 after purchasing an additional 96,938 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Netflix by 1.9% during 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 purchasing an additional 78,298 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.