Netflix, Inc. (NASDAQ:NFLX) Director Sells $26,463,401.90 in Stock

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 22,765 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.46, for a total value of $26,463,401.90. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $458,009.24. This trade represents a 98.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, July 1st, Reed Hastings sold 16,840 shares of Netflix stock. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20.
• On Tuesday, July 1st, Reed Hastings sold 9,673 shares of Netflix stock. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03.
• On Monday, June 2nd, Reed Hastings sold 26,933 shares of Netflix stock. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,178.48 on Thursday. The stock has a market cap of $500.77 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a 12 month low of $610.64 and a 12 month high of $1,341.15. The stock’s 50 day moving average price is $1,232.15 and its 200 day moving average price is $1,088.90.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.88 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. FMR LLC lifted its position in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Netflix by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after acquiring an additional 304,399 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Netflix by 1.0% during the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock worth $4,844,436,000 after purchasing an additional 53,611 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NFLX shares. Pivotal Research restated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. The Goldman Sachs Group upped their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company boosted their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

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.