Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 25,074 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, August 1st, Reed Hastings sold 25,599 shares of Netflix stock. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57.
• On Monday, July 1st, Reed Hastings sold 22,526 shares of Netflix stock. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74.

Netflix Trading Up 0.6 %

NASDAQ NFLX opened at $679.68 on Thursday. The company’s fifty day simple moving average is $660.09 and its 200-day simple moving average is $632.90. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market cap of $292.94 billion, a P/E ratio of 47.17, a PEG ratio of 1.44 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. 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 previous year, the company posted $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. Macquarie reiterated an “outperform” rating and set a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Wedbush reiterated an “outperform” rating and set a $725.00 price target on shares of Netflix in a report on Monday, May 20th. Finally, KeyCorp lifted their price target on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $685.45.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth $2,558,598,000. Wellington Management Group LLP increased its stake in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Netflix in the first quarter worth $1,450,476,000. Jennison Associates LLC increased its stake in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Netflix in the first quarter worth $436,514,000. 80.93% of the stock is 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.