Netflix (NASDAQ:NFLX) Shares Down 0.7% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX) shares traded down 0.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $763.13 and last traded at $766.72. 869,119 shares were traded during mid-day trading, a decline of 77% from the average session volume of 3,720,866 shares. The stock had previously closed at $772.07.

Specifically, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at $26,975,430. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NFLX. Benchmark reaffirmed a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Sanford C. Bernstein increased their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wedbush increased their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $322.94 billion, a PE ratio of 52.00, a PEG ratio of 1.49 and a beta of 1.26. The firm’s 50-day simple moving average is $703.23 and its two-hundred day simple moving average is $657.75.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the stock. Denver PWM LLC purchased a new position in shares of Netflix during the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is currently 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.