Netflix (NASDAQ:NFLX) Trading Down 0.5% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 0.5% during trading on Thursday following insider selling activity. The stock traded as low as $873.00 and last traded at $875.00. Approximately 2,343,756 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 2,747,146 shares. The stock had previously closed at $879.19.

Specifically, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NFLX shares. The Goldman Sachs Group upped their price objective on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research report on Wednesday. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Rosenblatt Securities upped their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Trading Down 0.5 %

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 simple moving average of $876.43 and a 200 day simple moving average of $751.52. The company has a market cap of $374.03 billion, a price-to-earnings ratio of 49.52, a PEG ratio of 1.77 and a beta of 1.27.

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

Institutional Trading of Netflix

Institutional investors and hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the 3rd quarter valued at about $37,000. FSA Wealth Management LLC purchased a new stake in shares of Netflix in the third quarter worth about $38,000. Finally, First Personal Financial Services acquired a new stake in Netflix during the third quarter worth about $40,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.