Netflix (NASDAQ:NFLX) Stock Price Down 1% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 1% on Friday after an insider sold shares in the company. The stock traded as low as $702.24 and last traded at $704.37. Approximately 648,687 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,704,681 shares. The stock had previously closed at $711.43.

Specifically, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,564,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. The disclosure for this sale can be found here.

Analysts Set New Price Targets

NFLX has been the topic of several recent analyst reports. Guggenheim upped their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Piper Sandler upped their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. Argus upped their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, KeyCorp upped their price target on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Down 0.6 %

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 company has a market cap of $304.87 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The business has a 50-day simple moving average of $669.62 and a 200-day simple moving average of $644.66.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the business posted $3.29 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC grew its stake in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC grew its stake in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC grew its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Netflix during the 4th quarter worth approximately $32,000. 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.