Reed Hastings Sells 30,485 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares in the company, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The shares were sold at an average price of $978.39, for a total transaction of $31,374,032.13.
• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44.

Netflix Price Performance

Shares of NFLX stock traded down $1.12 during mid-day trading on Tuesday, reaching $972.58. The stock had a trading volume of 4,385,138 shares, compared to its average volume of 3,310,103. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a market cap of $416.03 billion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The business has a 50-day simple moving average of $949.77 and a 200 day simple moving average of $837.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.11 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on NFLX shares. JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Macquarie boosted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Bank of America boosted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Loop Capital boosted their price target on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Finally, Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.