Netflix (NASDAQ:NFLX) Shares Down 3.1% – What’s Next?

Shares of Netflix, Inc. (NASDAQ:NFLX) traded down 3.1% during trading on Monday . The stock traded as low as $861.68 and last traded at $863.28. 1,990,818 shares were traded during trading, a decline of 41% from the average session volume of 3,348,886 shares. The stock had previously closed at $891.11.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Loop Capital upped their price objective on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Bank of America increased their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $382.89 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.12 and a beta of 1.38. The firm’s fifty day moving average is $949.66 and its 200 day moving average is $845.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm posted $2.11 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of NFLX. Nordea Investment Management AB raised its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Haven Private LLC acquired a new stake in Netflix in the 4th quarter worth approximately $733,000. Charles Schwab Investment Management Inc. grew its position in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the last quarter. Sigma Planning Corp increased its stake in Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the last quarter. 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.