Netflix (NASDAQ:NFLX) Shares Down 0.6% After Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 0.6% during trading on Friday following insider selling activity. The stock traded as low as $880.12 and last traded at $881.57. Approximately 675,013 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,441,472 shares. The stock had previously closed at $886.73.

Specifically, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Citigroup boosted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Needham & Company LLC lifted their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Macquarie reissued an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Benchmark lifted their target price on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $813.00.

Netflix Stock Performance

The firm’s fifty day moving average price is $866.57 and its 200-day moving average price is $746.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $376.61 billion, a P/E ratio of 49.86, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in NFLX. State Street Corp increased its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its holdings in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC raised its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Company Profile

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.