Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells 32,067 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 32,067 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $978.39, for a total transaction of $31,374,032.13. Following the transaction, the chairman now directly owns 349 shares of the company’s stock, valued at $341,458.11. This represents a 98.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80.

Netflix Price Performance

NFLX stock opened at $1,015.68 on Friday. The firm’s fifty day moving average is $912.05 and its 200 day moving average is $786.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,016.35. The firm has a market cap of $434.47 billion, a P/E ratio of 51.22, a P/E/G ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for 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 quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 EPS. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NFLX. Wedbush reissued an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Pivotal Research boosted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Oppenheimer boosted their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their price target on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Ten 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. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Institutional Investors Weigh In On Netflix

Institutional investors have recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. raised its stake in shares of Netflix by 6.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 7,126 shares of the Internet television network’s stock valued at $6,352,000 after acquiring an additional 447 shares during the last quarter. Freestone Capital Holdings LLC grew its position in shares of Netflix by 1.0% in the 4th quarter. Freestone Capital Holdings LLC now owns 8,793 shares of the Internet television network’s stock worth $7,838,000 after buying an additional 86 shares during the last quarter. Opulen Financial Group LLC purchased a new position in shares of Netflix during the fourth quarter valued at approximately $267,000. Ethos Financial Group LLC raised its holdings in shares of Netflix by 4.9% during the fourth quarter. Ethos Financial Group LLC now owns 472 shares of the Internet television network’s stock valued at $421,000 after acquiring an additional 22 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Netflix by 1.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,030 shares of the Internet television network’s stock worth $2,700,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors 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.