Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $16,163,976.57 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, July 1st, Reed Hastings sold 22,526 shares of Netflix stock. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74.
• On Monday, June 3rd, Reed Hastings sold 19,943 shares of Netflix stock. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94.

Netflix Stock Down 1.8 %

Shares of NFLX opened at $613.64 on Monday. The stock has a 50 day moving average price of $656.10 and a 200 day moving average price of $614.70. Netflix, Inc. has a one year low of $344.73 and a one year high of $697.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $263.36 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its 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. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Rosenblatt Securities upped their price objective on shares of Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and cut their price objective for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. The Goldman Sachs Group boosted their target price on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Benchmark increased their price target on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $681.21.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Capital World Investors raised its holdings in shares of Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Norges Bank purchased a new position in Netflix during the 4th quarter valued at about $2,558,598,000. Finally, Baillie Gifford & Co. grew its position in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares in the last quarter. Hedge funds and other 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.