Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells 22,526 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 22,526 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 3rd, Reed Hastings sold 19,943 shares of Netflix stock. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94.
• On Wednesday, May 1st, Reed Hastings sold 18,361 shares of Netflix stock. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94.

Netflix Trading Up 0.4 %

Shares of NFLX opened at $682.51 on Friday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88. The company has a market capitalization of $294.16 billion, a P/E ratio of 47.36, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $635.90 and its 200 day simple moving average is $588.63.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the company posted $2.88 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. Spartan Planning & Wealth Management bought a new position in Netflix during the third quarter valued at approximately $26,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC raised its position in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Netflix during the fourth quarter valued at about $32,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. Guggenheim raised their target price on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America raised their price target on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Pivotal Research upped their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $637.34.

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.