Reed Hastings Sells 45,290 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, September 3rd, Reed Hastings sold 25,074 shares of Netflix stock. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08.
• On Thursday, August 1st, Reed Hastings sold 25,599 shares of Netflix stock. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57.

Netflix Stock Performance

NASDAQ NFLX opened at $706.80 on Friday. The firm has a 50-day moving average price of $675.08 and a two-hundred day moving average price of $647.16. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26. The company has a market capitalization of $304.63 billion, a P/E ratio of 49.05, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Heartland Bank & Trust Co grew its stake in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares in the last quarter. Meritas Wealth Management LLC lifted its holdings in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the period. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares in the last quarter. Private Portfolio Partners LLC increased its stake in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares during the last quarter. Finally, FAS Wealth Partners Inc. raised its position in Netflix by 1.5% during the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFLX. Citigroup raised their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Bank of America boosted their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Guggenheim increased their price objective on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Pivotal Research boosted their target price on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. One equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of $686.03.

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.