Netflix (NASDAQ:NFLX) Shares Gap Down to $270.75

Netflix, Inc. (NASDAQ:NFLX) shares gapped down before the market opened on Monday . The stock had previously closed at $261.24, but opened at $270.75. Netflix shares last traded at $262.99, with a volume of 4,802,535 shares traded.

Several research analysts have recently commented on the company. Morgan Stanley set a $450.00 price target on Netflix and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Co started coverage on Netflix in a report on Monday. They issued a “market perform” rating and a $288.00 target price for the company. BMO Capital Markets decreased their target price on Netflix from $470.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Credit Suisse Group set a $440.00 target price on Netflix and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Pivotal Research decreased their target price on Netflix from $515.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $383.35.

The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $115.92 billion, a price-to-earnings ratio of 98.79, a PEG ratio of 2.78 and a beta of 1.24. The stock has a 50 day simple moving average of $293.10 and a two-hundred day simple moving average of $341.13.



Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the firm earned $0.85 earnings per share. Netflix’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 3.25 EPS for the current year.

In other news, CEO Reed Hastings sold 55,342 shares of Netflix stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the sale, the chief executive officer now owns 55,342 shares in the company, valued at $17,130,562.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the transaction, the director now directly owns 799 shares of the company’s stock, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 152,191 shares of company stock worth $44,831,164. 3.72% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Acadian Asset Management LLC increased its position in shares of Netflix by 208.3% during the first quarter. Acadian Asset Management LLC now owns 2,633 shares of the Internet television network’s stock worth $939,000 after purchasing an additional 1,779 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Netflix by 3.3% during the first quarter. Wesbanco Bank Inc. now owns 2,048 shares of the Internet television network’s stock worth $730,000 after purchasing an additional 65 shares in the last quarter. Synovus Financial Corp increased its position in shares of Netflix by 8.6% during the first quarter. Synovus Financial Corp now owns 4,138 shares of the Internet television network’s stock worth $1,473,000 after purchasing an additional 327 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Netflix by 9.5% during the first quarter. Ballentine Partners LLC now owns 1,348 shares of the Internet television network’s stock worth $480,000 after purchasing an additional 117 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Netflix during the first quarter worth about $371,000. Institutional investors and hedge funds own 78.96% of the company’s stock.

About Netflix (NASDAQ:NFLX)

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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