Netflix (NASDAQ:NFLX) Stock Price Down 0% on Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX) shares traded down 0% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $1,010.00 to $1,000.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as low as $829.14 and last traded at $837.51. 899,204 shares changed hands during trading, a decline of 67% from the average session volume of 2,757,333 shares. The stock had previously closed at $837.69.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their target price on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Pivotal Research increased their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Benchmark lifted their price objective on shares of Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research report on Friday, January 3rd. Finally, Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $824.00.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 24.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,742 shares of company stock valued at $131,030,268. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the stock. DigitalBridge Group Inc. lifted its holdings in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the last quarter. Nordea Investment Management AB lifted its stake in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Netflix by 1.2% in the third 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 buying an additional 29,726 shares during the period. Natixis Advisors LLC increased its position 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 acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 0.3 %

The company’s 50-day moving average is $878.06 and its 200 day moving average is $753.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $357.13 billion, a PE ratio of 47.28, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, sell-side analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix Company Profile

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.