Jay C. Hoag Sells 22,504 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Director Jay C. Hoag sold 22,504 shares of Netflix stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $1,189.21, for a total transaction of $26,761,981.84. Following the completion of the transaction, the director now owns 73,370 shares of the company’s stock, valued at $87,252,337.70. The trade was a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,217.94 on Wednesday. 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, Inc. has a twelve month low of $587.04 and a twelve month high of $1,229.57. The stock has a 50 day moving average of $1,069.06 and a two-hundred day moving average of $980.69. The stock has a market cap of $518.32 billion, a P/E ratio of 61.42, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm earned $8.28 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Pivotal Research boosted their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Jefferies Financial Group boosted their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Bank of America boosted their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, FBN Securities started coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,140.52.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new position in shares of Netflix in the fourth quarter worth about $5,019,087,000. Nuveen LLC acquired a new position in shares of Netflix in the first quarter worth about $2,385,585,000. Proficio Capital Partners LLC increased its holdings in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after buying an additional 1,236,251 shares during the last quarter. Hedge funds and other institutional investors 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.