Netflix (NASDAQ:NFLX) Shares Down 2.4% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX) shares dropped 2.4% on Thursday following insider selling activity. The company traded as low as $900.47 and last traded at $912.64. Approximately 1,983,587 shares changed hands during trading, a decline of 45% from the average daily volume of 3,592,440 shares. The stock had previously closed at $935.52.

Specifically, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This trade represents a 98.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Oppenheimer boosted their price target on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,023.74.

Netflix Stock Down 1.7 %

The firm’s 50 day simple moving average is $974.03 and its 200-day simple moving average is $873.22. The company has a market cap of $393.29 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of NFLX. Pathway Financial Advisers LLC increased its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in Netflix in the 4th quarter valued at about $32,000. Newton One Investments LLC purchased a new stake in Netflix during the 4th quarter valued at approximately $34,000. Finally, Pineridge Advisors LLC raised its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.