Reed Hastings Sells 48,363 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06.
• On Tuesday, October 1st, Reed Hastings sold 45,290 shares of Netflix stock. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40.

Netflix Price Performance

Netflix stock opened at $902.17 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The stock’s 50 day moving average price is $780.46 and its two-hundred day moving average price is $704.75. The stock has a market capitalization of $385.64 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 1.73 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 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. TD Cowen raised their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, KeyCorp raised their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $775.58.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its stake in Netflix by 8.6% in the 2nd quarter. Park Avenue Securities LLC now owns 13,647 shares of the Internet television network’s stock valued at $9,210,000 after purchasing an additional 1,076 shares during the period. Apella Capital LLC grew its stake in Netflix by 60.2% in the 2nd quarter. Apella Capital LLC now owns 995 shares of the Internet television network’s stock valued at $682,000 after purchasing an additional 374 shares during the period. Cullinan Associates Inc. grew its stake in shares of Netflix by 98.6% during the 2nd quarter. Cullinan Associates Inc. now owns 1,390 shares of the Internet television network’s stock worth $938,000 after acquiring an additional 690 shares during the period. NBC Securities Inc. grew its stake in shares of Netflix by 2.7% during the 2nd quarter. NBC Securities Inc. now owns 4,173 shares of the Internet television network’s stock worth $2,816,000 after acquiring an additional 108 shares during the period. Finally, Aprio Wealth Management LLC grew its stake in shares of Netflix by 9.1% during the 2nd quarter. Aprio Wealth Management LLC now owns 1,840 shares of the Internet television network’s stock worth $1,242,000 after acquiring an additional 153 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.