Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $10,126,825.94 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, April 1st, Reed Hastings sold 20,566 shares of Netflix stock. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72.
• On Friday, March 1st, Reed Hastings sold 18,494 shares of Netflix stock. The stock was sold at an average price of $611.22, for a total transaction of $11,303,902.68.

Netflix Stock Performance

Shares of Netflix stock opened at $579.34 on Friday. The business has a 50-day moving average of $602.57 and a 200 day moving average of $526.33. Netflix, Inc. has a 12 month low of $317.95 and a 12 month high of $639.00. The stock has a market capitalization of $249.67 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 18.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on NFLX. Barclays upped their price objective on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, DZ Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.15.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Authentikos Wealth Advisory LLC purchased a new stake in Netflix during the third quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix during the third quarter worth approximately $26,000. Valued Wealth Advisors LLC lifted its stake in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Finally, VitalStone Financial LLC lifted its stake in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.