Netflix (NASDAQ:NFLX) Trading Down 0.2% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 0.2% on Monday after an insider sold shares in the company. The stock traded as low as $689.46 and last traded at $695.81. Approximately 516,721 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,738,924 shares. The stock had previously closed at $697.06.

Specifically, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NFLX shares. Redburn Atlantic increased their price target on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Sunday. Bank of America raised their target price on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark lifted their target price on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. Finally, Sanford C. Bernstein raised their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $685.29.

Netflix Price Performance

The company has a 50 day simple moving average of $660.64 and a 200-day simple moving average of $639.15. The stock has a market cap of $304.68 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. grew its holdings in shares of Netflix by 231.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 5,805 shares of the Internet television network’s stock valued at $3,918,000 after purchasing an additional 4,054 shares during the last quarter. Lazari Capital Management Inc. grew its holdings in shares of Netflix by 3.2% during the second quarter. Lazari Capital Management Inc. now owns 3,931 shares of the Internet television network’s stock valued at $2,653,000 after purchasing an additional 123 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Netflix during the second quarter valued at approximately $47,894,000. NCP Inc. grew its holdings in shares of Netflix by 5.4% during the second quarter. NCP Inc. now owns 10,491 shares of the Internet television network’s stock valued at $7,080,000 after purchasing an additional 535 shares during the last quarter. Finally, Brown Financial Advisors bought a new position in shares of Netflix during the second quarter valued at approximately $1,201,000. 80.93% of the stock is 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.