Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $31,981,986.40 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $16,163,976.57.

Netflix Price Performance

NASDAQ NFLX traded up $4.96 during trading hours on Wednesday, reaching $711.09. The company’s stock had a trading volume of 1,757,557 shares, compared to its average volume of 3,689,080. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $306.48 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $725.26. The firm’s 50-day moving average price is $673.63 and its 200-day moving average price is $646.74.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the firm earned $3.29 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Rosenblatt Securities restated a “neutral” rating and set a $635.00 price target on shares of Netflix in a report on Friday, September 20th. TD Cowen increased their price objective on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their price objective on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic increased their target price on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $686.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denver PWM LLC bought a new stake in shares of Netflix during the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC increased its position in 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 purchasing an additional 20 shares during the period. VitalStone Financial LLC boosted 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 purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in Netflix by 1,550.0% during the 4th 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 shares of Netflix in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.