Netflix (NASDAQ:NFLX) Stock Price Down 0.9% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 0.9% on Thursday after an insider sold shares in the company. The stock traded as low as $700.00 and last traded at $704.96. Approximately 458,092 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 3,672,168 shares. The stock had previously closed at $711.09.

Specifically, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts have commented on NFLX shares. Evercore ISI increased their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. UBS Group increased their price target on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Redburn Atlantic increased their price target on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, TD Cowen lifted their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $686.03.

Netflix Stock Down 0.9 %

The stock’s fifty day simple moving average is $673.63 and its two-hundred day simple moving average is $646.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $303.84 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the company earned $3.29 EPS. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NFLX. Wellington Management Group LLP raised its holdings 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 valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Netflix in the first quarter valued at about $1,450,476,000. Jennison Associates LLC raised its holdings 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 valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Netflix in the first quarter valued at about $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the first quarter valued at about $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.