Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 22,526 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Reed Hastings also recently made the following trade(s):

• On Monday, June 3rd, Reed Hastings sold 19,943 shares of Netflix stock. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94.
• On Wednesday, May 1st, Reed Hastings sold 18,361 shares of Netflix stock. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94.

Netflix Stock Performance

NASDAQ NFLX opened at $679.58 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. The business’s 50-day moving average price is $631.31 and its 200 day moving average price is $586.51. The firm has a market cap of $292.90 billion, a P/E ratio of 47.16, a P/E/G ratio of 1.46 and a beta of 1.27.

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. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the company posted $2.88 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Netflix in the 4th quarter valued at approximately $2,558,598,000. Wellington Management Group LLP boosted its holdings in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC purchased a new stake in Netflix in the 1st quarter valued at approximately $1,450,476,000. International Assets Investment Management LLC boosted its holdings in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of several analyst reports. Barclays increased their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Sanford C. Bernstein increased their price objective on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Citigroup increased their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. increased their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $637.34.

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.