Reed Hastings Sells 25,360 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $362,933.10. This represents a 98.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 3rd, Reed Hastings sold 30,485 shares of Netflix stock. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20.
• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The shares were sold at an average price of $978.39, for a total value of $31,374,032.13.
• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44.

Netflix Trading Up 0.8 %

Shares of NFLX opened at $935.52 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The firm’s 50-day moving average price is $974.03 and its 200-day moving average price is $873.22. The firm has a market capitalization of $400.18 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 2.12 and a beta of 1.38.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Argus upped their price objective 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. Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the company from $850.00 to $1,100.00 in a research report on Monday, March 17th. Bank of America upped their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report 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. Finally, Citigroup upped their price objective on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Institutional Trading of Netflix

Hedge funds have recently modified their holdings of the business. Park National Corp OH lifted its position in Netflix by 27.0% during the 1st quarter. Park National Corp OH now owns 310 shares of the Internet television network’s stock valued at $289,000 after acquiring an additional 66 shares during the period. Waller Financial Planning Group Inc. lifted its holdings in shares of Netflix by 2.0% during the first quarter. Waller Financial Planning Group Inc. now owns 627 shares of the Internet television network’s stock valued at $585,000 after purchasing an additional 12 shares during the last quarter. Kera Capital Partners Inc. boosted its position in shares of Netflix by 6.0% in the 1st quarter. Kera Capital Partners Inc. now owns 440 shares of the Internet television network’s stock worth $410,000 after purchasing an additional 25 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of Netflix by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 1,613 shares of the Internet television network’s stock worth $1,504,000 after buying an additional 16 shares during the last quarter. Finally, Global Wealth Strategies & Associates increased its position in Netflix by 9.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 140 shares of the Internet television network’s stock valued at $131,000 after buying an additional 12 shares in the last quarter. Institutional investors 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.