Netflix (NASDAQ:NFLX) Trading Down 1.5% – Time to Sell?

Netflix, Inc. (NASDAQ:NFLX) shares dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $699.78 and last traded at $702.40. Approximately 828,461 shares changed hands during trading, a decline of 77% from the average daily volume of 3,631,327 shares. The stock had previously closed at $713.00.

Analyst Ratings Changes

Several brokerages have weighed in on NFLX. KeyCorp boosted their price objective on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Jefferies Financial Group boosted their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Macquarie raised their target price on shares of Netflix from $695.00 to $795.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Price Performance

The firm has a 50 day moving average price of $688.89 and a 200 day moving average price of $652.34. The stock has a market capitalization of $304.38 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 earnings per share. Research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 over the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Heartland Bank & Trust Co grew its position in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares in the last quarter. Meritas Wealth Management LLC increased its stake in Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its holdings in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares in the last quarter. Private Portfolio Partners LLC boosted its position in shares of Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in shares of Netflix by 1.5% in the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares in the last quarter. 80.93% of the stock is currently owned by 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.