Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $43,362,265.80 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06.
• On Tuesday, October 1st, Reed Hastings sold 45,290 shares of Netflix stock. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40.

Netflix Stock Up 0.7 %

Shares of NFLX opened at $917.87 on Friday. The company has a market cap of $392.35 billion, a PE ratio of 51.95, a P/E/G ratio of 1.74 and a beta of 1.27. The business has a fifty day moving average of $788.37 and a 200 day moving average of $707.66. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $927.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Denver PWM LLC purchased a new stake in Netflix in the second quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the third quarter worth $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC increased its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Citigroup increased their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley increased their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI increased their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Bank of America increased their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $783.00.

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.