Netflix (NASDAQ:NFLX) is trading 0.7% lower after analyst downgrade

The shares of Netflix, Inc. (NASDAQ:NFLX – Get Free Report) fell 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. About 3,492,896 shares traded during trading, a decline of 21% from the average daily volume of 4,439,449 shares. The stock previously closed at $555.04.

Several other stock 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 26. JPMorgan Chase & Co. raised their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8. Redburn Atlantic raised 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 24. Seaport Res Ptn downgraded Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30. 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

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Insider activity at Netflix

In related news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were 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 via this link. In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24. The shares were 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 can be accessed through the SEC website. Insider David A. Hyman also sold 267 shares in a transaction on Tuesday, February 6. The shares 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 explanation of this sale can be found here. Insiders have sold a total of 268,335 shares of the company’s stock, worth $151,619,811, over the last 90 days. Corporate insiders own 2.45% of the company’s shares.

Institutional trading in Netflix

Institutional investors have recently increased or decreased their stakes in the company. Columbia Trust Co 01012016 increased 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 worth $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. increased its stake in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network, valued at $1,025,000, after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC increased its stake in shares of Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares in the last quarter. Assenagon Asset Management SA increased its stake in Netflix shares by 142.6% in the third quarter. Assenagon Asset Management SA now owns 667,597 shares of the internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC increased its holdings in shares of Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the internet television network’s stock worth $578,000 after purchasing an additional 114 shares in the last quarter. 80.93% of the shares are currently owned by hedge funds and other institutional investors.

Netflix is ​​trading 0.1% lower

The stock has a market cap of $238.98 billion, a price-to-earnings ratio of 38.49, a price-to-earnings 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 of $605.58 and a 200-day moving average of $516.27.

Netflix (NASDAQ:NFLX – Get Free Report) last reported its quarterly results on Thursday, April 18. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The company 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 rose 14.8% year over year. During the same period last year, the company posted earnings per share of $2.88. Sell-side analysts expect Netflix, Inc. will post an earnings per share of 17.13 for the current year.

Netflix company profile

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to receive streaming content through a variety of Internet-connected devices, including TVs, digital video players, TV set-top boxes and mobile devices.

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