Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells 45,290 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Thursday, August 1st, Reed Hastings sold 25,599 shares of Netflix stock. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57.

Netflix Stock Performance

Shares of NFLX stock traded up $4.96 during mid-day trading on Wednesday, hitting $711.09. 1,757,557 shares of the stock were exchanged, compared to its average volume of 3,689,080. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26. 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’s fifty day simple moving average is $673.63 and its two-hundred day simple moving average is $646.74. The stock has a market capitalization of $306.48 billion, a price-to-earnings ratio of 49.35, a P/E/G ratio of 1.44 and a beta of 1.26.

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. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 EPS. On average, analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Denver PWM LLC acquired a new position in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares in the last quarter. VitalStone Financial LLC grew its stake in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Netflix in the fourth quarter valued at about $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen increased their target price on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. Morgan Stanley lifted their price objective on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Evercore ISI upped their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Netflix in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $686.03.

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.