Netflix (NASDAQ:NFLX) Trading Down 0% on Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report) fell 0% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $1,010.00 to $1,000.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as low as $829.14 and last traded at $837.51. 899,204 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 2,757,333 shares. The stock had previously closed at $837.69.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group increased their price objective on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Oppenheimer increased their price objective on shares of Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Canaccord Genuity Group lifted their target price on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Morgan Stanley increased their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Guggenheim increased their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $841.27.

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Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the 3rd quarter valued at about $37,000. FSA Wealth Management LLC bought a new stake in shares of Netflix during the 3rd quarter valued at about $38,000. Finally, First Personal Financial Services bought a new stake in Netflix in the third quarter worth approximately $40,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

The firm has a market capitalization of $354.11 billion, a P/E ratio of 46.88, a P/E/G ratio of 1.77 and a beta of 1.27. The stock has a fifty day simple moving average of $881.04 and a two-hundred day simple moving average of $755.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLXGet Free Report) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix Company Profile

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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.

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