Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 32,067 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 32,067 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $978.39, for a total value of $31,374,032.13. Following the transaction, the chairman now owns 349 shares of the company’s stock, valued at approximately $341,458.11. This trade represents a 98.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44.
• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80.

Netflix Trading Up 1.6 %

NFLX stock opened at $1,011.11 on Thursday. The business has a fifty day moving average of $909.38 and a 200-day moving average of $784.44. The company has a market cap of $432.51 billion, a P/E ratio of 50.99, a PEG ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,011.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NFLX shares. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Evercore ISI lifted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. SRS Capital Advisors Inc. raised its position in shares of Netflix by 315.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,696 shares of the Internet television network’s stock valued at $4,186,000 after acquiring an additional 3,566 shares during the last quarter. Asahi Life Asset Management CO. LTD. grew its stake in shares of Netflix by 61.1% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 1,115 shares of the Internet television network’s stock worth $994,000 after purchasing an additional 423 shares during the period. Bailard Inc. increased its holdings in Netflix by 1.1% in the fourth quarter. Bailard Inc. now owns 23,882 shares of the Internet television network’s stock valued at $21,287,000 after purchasing an additional 267 shares during the last quarter. IFG Advisors LLC acquired a new position in Netflix in the fourth quarter valued at about $284,000. Finally, Kohmann Bosshard Financial Services LLC boosted its holdings in Netflix by 3.2% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 716 shares of the Internet television network’s stock worth $638,000 after buying an additional 22 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.