Netflix (NASDAQ:NFLX) Trading Down 0.6% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $880.12 and last traded at $881.57. Approximately 675,013 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,441,472 shares. The stock had previously closed at $886.73.

Specifically, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction 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 transaction, the chairman now directly owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of research analysts have commented on NFLX shares. Oppenheimer boosted their target price on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. KeyCorp boosted their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Evercore ISI increased their price objective on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. lifted their target price on shares of Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $813.00.

Netflix Stock Performance

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 firm has a 50-day moving average of $866.57 and a 200 day moving average of $746.56. The stock has a market capitalization of $376.61 billion, a P/E ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in 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 during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Netflix by 154.7% during the third 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. State Street Corp lifted its stake in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the third quarter valued at about $222,871,000. Institutional investors and hedge funds 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.