Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $31,981,986.40 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 3rd, Reed Hastings sold 25,074 shares of Netflix stock. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08.
• On Thursday, August 1st, Reed Hastings sold 25,599 shares of Netflix stock. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57.

Netflix Stock Up 1.8 %

Shares of NASDAQ:NFLX opened at $719.70 on Friday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $310.19 billion, a P/E ratio of 49.94, a P/E/G ratio of 1.44 and a beta of 1.26. The firm has a fifty day moving average price of $676.85 and a 200 day moving average price of $647.86.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. DigitalBridge Group Inc. boosted its position in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc purchased a new position in Netflix in the first quarter valued at about $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its position in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Netflix in the 4th quarter worth approximately $9,513,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NFLX. Guggenheim lifted their target price on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Benchmark upped their target price on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $686.03.

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.