Netflix (NASDAQ:NFLX) Shares Down 0.2% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX) shares dropped 0.2% during trading on Monday after an insider sold shares in the company. The stock traded as low as $689.46 and last traded at $695.81. Approximately 516,721 shares changed hands during trading, a decline of 86% from the average daily volume of 3,738,924 shares. The stock had previously closed at $697.06.

Specifically, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research reports. Piper Sandler increased their price objective on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their price target on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup boosted their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Rosenblatt Securities increased their target price on Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Macquarie reissued an “outperform” rating and set a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $685.29.

Netflix Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $299.89 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The firm has a 50 day moving average price of $660.00 and a two-hundred day moving average price of $637.88.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating 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 return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Lazari Capital Management Inc. lifted its position in shares of Netflix by 3.2% in the 2nd quarter. Lazari Capital Management Inc. now owns 3,931 shares of the Internet television network’s stock valued at $2,653,000 after acquiring an additional 123 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Netflix during the 2nd quarter valued at $47,894,000. NCP Inc. lifted its holdings in shares of Netflix by 5.4% in the second quarter. NCP Inc. now owns 10,491 shares of the Internet television network’s stock valued at $7,080,000 after purchasing an additional 535 shares in the last quarter. Brown Financial Advisors purchased a new stake in shares of Netflix in the second quarter valued at $1,201,000. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Netflix by 77.9% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 19,522 shares of the Internet television network’s stock worth $13,175,000 after buying an additional 8,550 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.