Netflix (NASDAQ:NFLX) Shares Down 0.1% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price traded down 0.1% during trading on Wednesday following insider selling activity. The stock traded as low as $873.00 and last traded at $878.37. 644,420 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 2,396,961 shares. The stock had previously closed at $879.19.

Specifically, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Pivotal Research increased their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Loop Capital downgraded shares of Netflix from a “buy” rating to a “hold” rating and raised their target price for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Bank of America lifted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group raised their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $824.00.

Netflix Trading Down 4.3 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $878.06 and its 200 day moving average is $752.69. The firm has a market capitalization of $358.08 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. International Assets Investment Management LLC increased its stake in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp increased its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Netflix during the 3rd quarter worth $222,871,000. 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.