Netflix Inc. (NFLX) Shares Down 4%
Netflix Inc. (NASDAQ:NFLX)’s share price dropped 4% during mid-day trading on Wednesday . The stock traded as low as $93.26 and last traded at $94.29, with a volume of 13,488,450 shares trading hands. The stock had previously closed at $98.25.
NFLX has been the topic of several research analyst reports. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price on the stock in a research note on Tuesday. Cantor Fitzgerald restated a “buy” rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co restated a “market perform” rating and set a $90.00 target price on shares of Netflix in a research note on Thursday, September 15th. RBC Capital Markets restated an “outperform” rating and set a $130.00 target price on shares of Netflix in a research note on Monday, August 29th. Finally, Bank of America Corp. restated a “buy” rating and set a $146.00 target price on shares of Netflix in a research note on Friday, August 26th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix has a consensus rating of “Hold” and a consensus price target of $110.46.
The stock has a market capitalization of $40.68 billion, a PE ratio of 296.50 and a beta of 1.71. The company has a 50 day moving average of $96.58 and a 200 day moving average of $96.20.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/netflix-inc-nflx-shares-down-4.html
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. The business earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. On average, equities analysts predict that Netflix Inc. will post $0.29 EPS for the current fiscal year.
In related news, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total value of $133,882.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,488,194.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $95.03, for a total value of $66,521.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at $1,478,856.86. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in Netflix by 34.9% in the second quarter. Macquarie Group Ltd. now owns 115,690 shares of the Internet television network’s stock valued at $10,583,000 after buying an additional 29,915 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Netflix during the second quarter valued at $1,582,000. Kentucky Retirement Systems purchased a new position in Netflix during the second quarter valued at $3,332,000. Mason Street Advisors LLC purchased a new position in Netflix during the second quarter valued at $5,277,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Netflix by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,893 shares of the Internet television network’s stock valued at $539,000 after buying an additional 390 shares during the last quarter. 78.43% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.