Rep. Josh Gottheimer Sells Off Shares of Netflix, Inc. (NASDAQ:NFLX)

Posted by Maria Luz-Campos on Nov 8th, 2024

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Netflix, Inc. (NASDAQ:NFLX). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Netflix stock on October 18th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Netflix Stock Up 2.1 %

NFLX stock opened at $796.54 on Friday. Netflix, Inc. has a twelve month low of $433.68 and a twelve month high of $798.22. The company has a market cap of $340.49 billion, a price-to-earnings ratio of 45.08, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $717.59 and a two-hundred day moving average price of $667.98.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. Denver PWM LLC bought a new stake in Netflix during the second quarter worth $25,000. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Netflix in the third quarter valued at about $37,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wedbush upped their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. TD Cowen lifted their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays restated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Finally, Citigroup lifted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Read Our Latest Report on NFLX

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is currently owned by corporate insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

Netflix Company Profile

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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.