Reed Hastings Sells 30,485 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 30,485 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The shares were sold at an average price of $978.39, for a total value of $31,374,032.13.
• 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 transaction of $31,853,653.44.

Netflix Stock Up 1.9 %

NFLX stock opened at $990.92 on Thursday. The company has a market cap of $423.87 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 2.12 and a beta of 1.27. The firm has a 50-day moving average of $950.95 and a two-hundred day moving average of $838.65. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during 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 revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. KeyCorp raised their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the third quarter worth about $25,000. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC purchased a new position in Netflix in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds 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.