Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 35,868 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06.

Netflix Stock Performance

NASDAQ NFLX opened at $881.05 on Friday. The company has a market capitalization of $376.61 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 52-week low of $466.53 and a 52-week high of $941.75. The company has a 50-day simple moving average of $864.05 and a 200 day simple moving average of $744.71.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NFLX shares. KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley boosted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Oppenheimer raised their price objective on shares of Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Pivotal Research boosted their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $813.00.

Institutional Trading of Netflix

Several hedge funds have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter worth about $25,000. Denver PWM LLC purchased a new position in shares of Netflix in the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the third quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at approximately $38,000. 80.93% of the stock is currently owned by 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.