Netflix (NASDAQ:NFLX) Shares Down 0.7% After Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price fell 0.7% on Monday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. Canaccord Genuity Group now has a $585.00 price target on the stock, down from their previous price target of $720.00. Netflix traded as low as $542.01 and last traded at $551.09. 3,492,896 shares traded hands during trading, a decline of 21% from the average session volume of 4,439,449 shares. The stock had previously closed at $555.04.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group reissued a “hold” rating and set a $585.00 target price (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Wedbush lifted their price objective on Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 27th. Morgan Stanley increased their target price on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Bank of America lifted their target price on Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,181,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,106 shares of company stock worth $92,729,716. 2.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. KFA Private Wealth Group LLC grew its stake in Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after buying an additional 18 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares in the last quarter. Founders Financial Alliance LLC lifted its position in Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Netflix by 4.6% in the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after buying an additional 18 shares in the last quarter. Finally, Addison Advisors LLC boosted its position in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 4.2 %

The stock has a 50 day simple moving average of $606.05 and a 200 day simple moving average of $517.65. The firm has a market capitalization of $248.95 billion, a PE ratio of 40.09, a PEG ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the firm earned $2.88 earnings per share. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Netflix, Inc. will post 17.13 earnings per share for the current year.

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.