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

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 0.2% during trading on Monday after an insider sold shares in the company. The company traded as low as $719.40 and last traded at $721.21. Approximately 468,064 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 3,633,721 shares. The stock had previously closed at $722.79.

Specifically, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

NFLX has been the topic of several research reports. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 target price on shares of Netflix in a report on Friday, September 20th. Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. China Renaissance initiated coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Finally, Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and upped their target price for the company from $650.00 to $800.00 in a report on Monday, October 7th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Stock Performance

The firm has a market cap of $304.28 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day moving average price of $690.82 and a two-hundred day moving average price of $653.04.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 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 business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. Netflix’s revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Institutional Investors Weigh In On Netflix

Hedge funds have recently modified their holdings of the stock. Denver PWM LLC acquired a new position in Netflix during the second quarter valued at $25,000. Valued Wealth Advisors LLC raised its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the period. Proffitt & Goodson Inc. raised its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. AlphaMark Advisors LLC raised its position in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO raised its position in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. 80.93% of the stock is owned by hedge funds and other 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.