Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells 30,485 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares in the company, valued at $386,876.48. The trade was a 98.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The stock was sold at an average price of $978.39, for a total transaction of $31,374,032.13.
• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44.

Netflix Stock Performance

NFLX traded down $1.12 during trading on Tuesday, reaching $972.58. 4,385,138 shares of the company’s stock were exchanged, compared to its average volume of 3,310,103. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $416.03 billion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company’s fifty day simple moving average is $949.77 and its 200-day simple moving average is $837.58.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix in the 4th quarter valued at $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. Finally, Newton One Investments LLC acquired a new stake in Netflix in the 4th quarter valued at $34,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Evercore ISI boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

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.