Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $31,853,653.44 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 value of $43,362,265.80.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06.

Netflix Stock Down 0.6 %

NFLX stock opened at $881.05 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 12 month low of $466.53 and a 12 month high of $941.75. The firm has a market capitalization of $376.61 billion, a PE ratio of 49.86, a P/E/G ratio of 1.77 and a beta of 1.27. The company’s 50 day simple moving average is $866.57 and its 200-day simple moving average is $746.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Resource Group lifted its stake 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 valued at $1,238,000 after buying an additional 12 shares during the period. New World Advisors LLC boosted its holdings in shares of Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co boosted its holdings in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC increased its stake in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the last quarter. Finally, Capstone Triton Financial Group LLC increased its stake in Netflix by 0.6% in the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after purchasing an additional 15 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NFLX. Barclays reaffirmed an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Oppenheimer increased their target price on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Pivotal Research upped their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price target on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $813.00.

About Netflix

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.