Netflix (NASDAQ:NFLX) Stock Price Down 2.4% on Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 2.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $900.47 and last traded at $912.64. Approximately 1,983,587 shares traded hands during trading, a decline of 45% from the average daily volume of 3,592,440 shares. The stock had previously closed at $935.52.

Specifically, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This trade represents a 41.34 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their target price for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Evercore ISI increased their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Morgan Stanley raised their price objective on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Netflix Price Performance

The company’s 50-day simple moving average is $972.68 and its 200 day simple moving average is $873.52. The company has a market capitalization of $392.27 billion, a P/E ratio of 46.25, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Trading of Netflix

Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Netflix by 43.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 32,902 shares of the Internet television network’s stock worth $23,336,000 after acquiring an additional 10,001 shares during the period. Reynders McVeigh Capital Management LLC lifted its position in Netflix by 4.8% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 434 shares of the Internet television network’s stock worth $307,000 after acquiring an additional 20 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Netflix by 3.8% during the third quarter. Royal London Asset Management Ltd. now owns 277,595 shares of the Internet television network’s stock valued at $196,890,000 after acquiring an additional 10,248 shares during the period. Finally, Quarry LP grew its position in shares of Netflix by 2,466.7% in the third quarter. Quarry LP now owns 770 shares of the Internet television network’s stock valued at $546,000 after purchasing an additional 740 shares during the last quarter. Institutional investors 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.