Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 35,868 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $43,362,265.80.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06.

Netflix Price Performance

Shares of Netflix stock traded down $5.68 during trading on Friday, reaching $881.05. 2,966,062 shares of the company’s stock were exchanged, compared to its average volume of 2,640,831. Netflix, Inc. has a 1-year low of $466.53 and a 1-year high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50-day moving average price is $864.05 and its 200 day moving average price is $744.71. The company has a market cap of $376.61 billion, a P/E ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NFLX. Canaccord Genuity Group increased their price objective on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. UBS Group raised their price target on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Benchmark raised their target price on shares of Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research report on Friday. Finally, Piper Sandler reissued an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $813.00.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the business. Advisory Resource Group lifted its position in shares of Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares during the last quarter. New World Advisors LLC lifted its holdings in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares in the last quarter. Heartland Bank & Trust Co boosted its position in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares during the period. Cedrus LLC grew its stake in Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after acquiring an additional 15 shares in the last quarter. Finally, Capstone Triton Financial Group LLC grew its stake in Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after acquiring an additional 15 shares in the last quarter. 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.