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

Netflix, Inc. (NASDAQ:NFLX) shares dropped 0% on Wednesday after UBS Group lowered their price target on the stock from $1,150.00 to $1,140.00. UBS Group currently has a buy rating on the stock. Netflix traded as low as $961.00 and last traded at $975.87. Approximately 1,872,163 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 3,703,480 shares. The stock had previously closed at $976.28.

NFLX has been the subject of several other reports. Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. KeyCorp dropped their target price on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Pivotal Research lifted their price target on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a report on Thursday, January 23rd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,020.63.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the fourth quarter valued at $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at $32,000. Newton One Investments LLC purchased a new position in shares of Netflix in the 4th quarter worth $34,000. Finally, Pineridge Advisors LLC increased its holdings in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $955.57 and its 200-day moving average price is $889.98. The stock has a market capitalization of $416.22 billion, a PE ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the firm earned $8.28 EPS. On average, equities analysts forecast 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.