Netflix (NASDAQ:NFLX) Trading Down 1.3% – Time to Sell?

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 1.3% during trading on Thursday . The company traded as low as $685.57 and last traded at $692.73. Approximately 1,688,707 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,626,474 shares. The stock had previously closed at $702.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NFLX shares. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC boosted their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America raised their target price on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wedbush raised their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Stock Performance

The stock has a fifty day moving average of $696.38 and a 200-day moving average of $654.66. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 over the last 90 days. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DigitalBridge Group Inc. boosted its holdings in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. M&G Plc acquired a new position in Netflix in the first quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its stake in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Netflix by 14.9% during the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after purchasing an additional 1,342 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.