Netflix (NASDAQ:NFLX) Shares Down 0.7% Following Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 0.7% during trading on Friday after an insider sold shares in the company. The company traded as low as $973.24 and last traded at $978.00. Approximately 1,492,618 shares changed hands during trading, a decline of 67% from the average daily volume of 4,569,157 shares. The stock had previously closed at $984.86.

Specifically, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research analysts recently issued reports on NFLX shares. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their target price for the company from $680.00 to $1,494.00 in a report on Wednesday. Macquarie boosted their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $895.13 and a 200-day moving average price of $766.98. The firm has a market cap of $417.88 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period in the previous year, the company posted $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Netflix by 700.0% during 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 during the period. MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter worth $37,000. FSA Wealth Management LLC acquired a new stake in Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the 3rd quarter worth $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.