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

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $763.13 and last traded at $766.72. Approximately 869,119 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,720,866 shares. The stock had previously closed at $772.07.

Specifically, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages have issued reports on NFLX. Guggenheim raised their price objective on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research note on Friday. Rosenblatt Securities raised their price objective 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, Benchmark reissued a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Performance

The business has a 50-day moving average price of $701.48 and a 200-day moving average price of $657.11. The firm has a market capitalization of $329.39 billion, a price-to-earnings ratio of 53.04, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Hedge Funds Weigh In On Netflix

A number of large investors have recently made changes to their positions in the business. Denver PWM LLC acquired a new position in shares of Netflix in the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC increased its position in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. increased its position in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. AlphaMark Advisors LLC increased its position in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO increased its position in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the period. 80.93% of the stock is 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.