Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $15,103,457.74 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 3rd, Reed Hastings sold 19,943 shares of Netflix stock. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94.
• On Wednesday, May 1st, Reed Hastings sold 18,361 shares of Netflix stock. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $5.54 during midday trading on Tuesday, reaching $679.15. 1,588,522 shares of the company were exchanged, compared to its average volume of 3,958,841. The stock has a market cap of $292.71 billion, a P/E ratio of 47.23, a PEG ratio of 1.46 and a beta of 1.27. The stock’s 50-day moving average price is $631.31 and its 200-day moving average price is $586.51. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a one year low of $344.73 and a one year high of $689.88.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Pivotal Research upped their price objective on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $655.00 price objective on shares of Netflix in a report on Wednesday, May 15th. Guggenheim increased their price target on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets reissued an “outperform” rating and issued a $713.00 price target (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $637.34.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Valued Wealth Advisors LLC raised its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the period. Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the period. VitalStone Financial LLC raised its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Netflix during the fourth quarter valued at about $32,000. Finally, Beaird Harris Wealth Management LLC increased its position in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds 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.