Netflix (NASDAQ:NFLX) Trading Down 0.7% Following Analyst Downgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 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. Approximately 3,492,896 shares were traded during trading, a decline of 21% from the average daily volume of 4,439,449 shares. The stock had previously closed at $555.04.

Several other equities research analysts have also recently weighed in on the company. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. JPMorgan Chase & Co. increased their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Redburn Atlantic upped their price target on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Seaport Res Ptn lowered Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Finally, Rosenblatt Securities lowered their price target on Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a research report on Friday. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. 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 47,574 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 in the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently added to or reduced their stakes in the business. Columbia Trust Co 01012016 boosted its stake in Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. boosted its stake in Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after buying an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after buying an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC boosted its stake in shares of Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after buying an additional 114 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.1 %

The stock has a market capitalization of $238.98 billion, a PE ratio of 38.49, a P/E/G 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. The stock has a 50 day moving average price of $605.58 and a 200-day moving average price of $516.27.

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