Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 30,485 Shares

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

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 value of $31,853,653.44.

Netflix Trading Down 8.5 %

Shares of NASDAQ:NFLX opened at $906.36 on Friday. The firm has a market cap of $387.70 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company’s fifty day simple moving average is $950.59 and its 200 day simple moving average is $839.12.

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

Analysts Set New Price Targets

NFLX has been the topic of several research reports. Argus upped their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Citigroup lifted their target price on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. West Michigan Advisors LLC increased its holdings in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after acquiring an additional 10 shares during the last quarter. Warwick Investment Management Inc. boosted its position in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC boosted its position in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after purchasing an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.