Netflix (NASDAQ:NFLX) Stock Price Down 0% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0% on Thursday after an insider sold shares in the company. The stock traded as low as $689.14 and last traded at $696.95. 802,662 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,867,663 shares. The stock had previously closed at $697.12.

Specifically, insider David A. Hyman sold 13,791 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,644 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,163,000. The disclosure for this sale can be found here. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research report on Monday, May 20th. Sanford C. Bernstein lifted their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Evercore ISI increased their target price on Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $681.21.

Netflix Price Performance

The stock has a market cap of $296.94 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The business has a 50-day simple moving average of $658.00 and a 200 day simple moving average of $624.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Institutional Investors Weigh In On Netflix

Large investors have recently modified their holdings of the company. 3Chopt Investment Partners LLC acquired a new stake in Netflix during the second quarter worth approximately $237,000. Heartland Bank & Trust Co boosted its holdings in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares in the last quarter. Ted Buchan & Co acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $1,091,000. Advisory Alpha LLC increased its stake in shares of Netflix by 1.5% in the 2nd quarter. Advisory Alpha LLC now owns 1,587 shares of the Internet television network’s stock valued at $1,071,000 after acquiring an additional 23 shares in the last quarter. Finally, Next Capital Management LLC lifted its position in shares of Netflix by 5.2% during the 2nd quarter. Next Capital Management LLC now owns 1,513 shares of the Internet television network’s stock valued at $1,021,000 after acquiring an additional 75 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.