Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 41,601 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 41,601 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, October 1st, Reed Hastings sold 45,290 shares of Netflix stock. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40.
• On Tuesday, September 3rd, Reed Hastings sold 25,074 shares of Netflix stock. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08.

Netflix Trading Down 0.1 %

Shares of NFLX stock opened at $755.51 on Tuesday. The company has a market cap of $322.95 billion, a P/E ratio of 42.76, a PEG ratio of 1.46 and a beta of 1.25. The stock has a 50 day simple moving average of $714.30 and a two-hundred day simple moving average of $665.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a fifty-two week low of $429.61 and a fifty-two week high of $773.00.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Loop Capital upped their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Canaccord Genuity Group upped their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. KeyCorp upped their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Redburn Atlantic upped their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group set a $750.00 price objective on Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the business. Everhart Financial Group Inc. increased its holdings in Netflix by 17.9% in the third quarter. Everhart Financial Group Inc. now owns 3,128 shares of the Internet television network’s stock worth $2,219,000 after purchasing an additional 475 shares in the last quarter. Buckingham Capital Management Inc. increased its holdings in shares of Netflix by 17.1% during the third quarter. Buckingham Capital Management Inc. now owns 2,379 shares of the Internet television network’s stock valued at $1,687,000 after acquiring an additional 347 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $106,000. Venturi Wealth Management LLC increased its holdings in shares of Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after acquiring an additional 664 shares in the last quarter. Finally, Cottonwood Capital Advisors LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $200,000. 80.93% of the stock is currently owned by institutional investors.

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.