Netflix (NASDAQ:NFLX) Trading Down 0.5% Following Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 0.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $873.00 and last traded at $875.00. Approximately 2,343,756 shares changed hands during trading, a decline of 15% from the average daily volume of 2,747,146 shares. The stock had previously closed at $879.19.

Specifically, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFLX. Oppenheimer upped their target price on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Argus boosted their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Two research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Stock Performance

The company’s 50-day moving average is $874.05 and its two-hundred day moving average is $750.65. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $374.03 billion, a P/E ratio of 49.52, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

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

Institutional Trading of Netflix

A number of large investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. grew its position 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 acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the third quarter worth about $37,000. FSA Wealth Management LLC bought a new stake in Netflix in the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter worth approximately $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.