Netflix (NASDAQ:NFLX) Trading Down 1.3% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX) shares dropped 1.3% during trading on Wednesday following insider selling activity. The stock traded as low as $973.74 and last traded at $983.92. Approximately 1,371,516 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,478,515 shares. The stock had previously closed at $997.28.

Specifically, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Oppenheimer raised their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $850.00 to $1,100.00 in a research report on Monday, March 17th. Finally, StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Stock Down 4.4 %

The company has a 50-day moving average of $970.22 and a two-hundred day moving average of $864.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $399.46 billion, a PE ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38.

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 company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the company posted $2.11 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the company. West Michigan Advisors LLC increased its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. lifted its holdings in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC grew its holdings in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its position in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after buying an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its position in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after acquiring an additional 10 shares during the last quarter. 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.