Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 41,601 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, October 1st, Reed Hastings sold 45,290 shares of Netflix stock. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40.
• On Tuesday, September 3rd, Reed Hastings sold 25,074 shares of Netflix stock. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08.

Netflix Trading Down 0.1 %

Shares of Netflix stock opened at $755.51 on Tuesday. Netflix, Inc. has a 12-month low of $429.61 and a 12-month high of $773.00. The stock has a market cap of $322.95 billion, a P/E ratio of 42.76, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $714.30 and its 200-day moving average is $665.72.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. KeyCorp boosted their target price on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Benchmark restated a “sell” rating and set a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Finally, Needham & Company LLC boosted their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two equities 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’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Netflix during the 1st quarter worth approximately $1,450,476,000. Assenagon Asset Management S.A. increased its holdings in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Netflix during the 1st quarter worth approximately $372,293,000. Finally, Swedbank AB acquired a new position in shares of Netflix during the 1st quarter worth approximately $216,538,000. Institutional investors own 80.93% of the company’s stock.

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.