Netflix (NASDAQ:NFLX) Stock Price Down 0.6% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $753.63 and last traded at $754.68. 346,112 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,701,214 shares. The stock had previously closed at $759.44.

Analysts Set New Price Targets

A number of research firms have weighed in on NFLX. Canaccord Genuity Group upped their price objective on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Wedbush increased their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI increased their price objective on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Oppenheimer raised their price target on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Barclays restated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

The stock has a market cap of $324.05 billion, a P/E ratio of 43.16, a P/E/G ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50 day simple moving average is $711.57 and its 200 day simple moving average is $662.98.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,810 shares of company stock worth $142,049,542 over the last quarter. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently bought and sold shares of the company. Denver PWM LLC bought a new position in Netflix in the 2nd quarter valued at about $25,000. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Netflix during the 2nd quarter worth approximately $38,000. 80.93% of the stock is 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.