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

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 32,067 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $978.39, for a total transaction of $31,374,032.13. Following the transaction, the chairman now directly owns 349 shares in the company, valued at approximately $341,458.11. The trade was a 98.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Stock Performance

NASDAQ:NFLX traded up $15.93 during mid-day trading on Tuesday, hitting $994.87. 5,990,621 shares of the company traded hands, compared to its average volume of 4,548,154. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $906.93 and its 200-day moving average price is $781.90. The firm has a market cap of $425.57 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,008.00.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. Oppenheimer increased their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Evercore ISI raised their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Robert W. Baird boosted their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Jefferies Financial Group lifted their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, KeyCorp upped their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its holdings in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter worth $25,000. Newton One Investments LLC purchased a new stake in Netflix in the 4th quarter worth $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. Institutional investors 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.