Netflix (NASDAQ:NFLX) Stock Price Down 0.7% – Should You Sell?

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.7% on Friday . The stock traded as low as $973.24 and last traded at $978.00. Approximately 1,492,618 shares were traded during trading, a decline of 67% from the average daily volume of 4,569,157 shares. The stock had previously closed at $984.86.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NFLX shares. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research note on Thursday. Citigroup lifted their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Robert W. Baird lifted their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Stock Down 1.1 %

The company has a market capitalization of $416.22 billion, a P/E ratio of 49.13, a PEG ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a 50 day moving average price of $892.06 and a 200 day moving average price of $764.95.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period in the previous year, the business posted $2.11 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

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

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.