Insider Selling: 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 business’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 transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $43,362,265.80.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06.

Netflix Stock Performance

NFLX stock opened at $881.05 on Monday. The firm has a market cap of $376.61 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $866.57 and a 200-day moving average price of $746.99. Netflix, Inc. has a 1-year low of $466.53 and a 1-year high of $941.75.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisory Resource Group increased its stake in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares in the last quarter. New World Advisors LLC grew its stake in shares of Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares during the period. Heartland Bank & Trust Co increased its position in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares in the last quarter. Cedrus LLC raised its stake in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares during the period. Finally, Capstone Triton Financial Group LLC boosted its holdings 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 worth $1,717,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Barclays reissued an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Benchmark upped their price objective on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Finally, Guggenheim increased their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $813.00.

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.