Netflix (NASDAQ:NFLX) Stock Price Down 1.2% on Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX) shares were down 1.2% during mid-day trading on Thursday after KeyCorp lowered their price target on the stock from $1,100.00 to $1,000.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as low as $924.13 and last traded at $933.69. Approximately 1,213,605 shares were traded during trading, a decline of 67% from the average daily volume of 3,663,434 shares. The stock had previously closed at $945.47.

A number of other analysts also recently commented on the stock. Guggenheim reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Netflix in a report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price objective on Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating on the stock in a research report on Tuesday. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,017.31.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock worth $267,919,297 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NFLX. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the 4th quarter worth $27,000. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Netflix during the 4th quarter worth about $32,000. Newton One Investments LLC purchased a new position in shares of Netflix in the 4th quarter valued at about $34,000. Finally, Pineridge Advisors LLC raised its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The stock has a market cap of $394.04 billion, a PE ratio of 46.45, a PEG ratio of 2.12 and a beta of 1.55. 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 firm has a 50 day moving average of $961.62 and a two-hundred day moving average of $882.89.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.