Netflix (NASDAQ:NFLX) Shares Down 2.7% on Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 2.7% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $1,194.10 and last traded at $1,191.92. Approximately 1,229,633 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 3,743,091 shares. The stock had previously closed at $1,224.46.

Specifically, Director Jay C. Hoag sold 31,750 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares of the company’s stock, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NFLX. Rosenblatt Securities boosted their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Evercore ISI restated an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Pivotal Research increased their target price on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Citigroup reissued a “neutral” rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

Netflix Price Performance

The business’s 50-day simple moving average is $1,093.58 and its two-hundred day simple moving average is $991.46. The stock has a market cap of $507.25 billion, a price-to-earnings ratio of 60.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping 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 quarter last year, the firm posted $8.28 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital & Planning LLC bought a new position in Netflix in the 4th quarter worth about $809,000. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after buying an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Netflix in the 4th quarter worth approximately $12,212,000. Revolve Wealth Partners LLC grew its holdings in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. Finally, Stiles Financial Services Inc increased its holdings in shares of Netflix by 46.4% in the fourth quarter. Stiles Financial Services Inc now owns 868 shares of the Internet television network’s stock worth $774,000 after buying an additional 275 shares during the period. 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.