Insider Selling: Netflix, Inc. (NASDAQ:NFLX) CEO Sells 57,260 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings sold 57,260 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $462.40, for a total transaction of $26,477,024.00. Following the transaction, the chief executive officer now directly owns 57,260 shares of the company’s stock, valued at $26,477,024. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Wednesday, May 20th, Reed Hastings sold 53,193 shares of Netflix stock. The stock was sold at an average price of $449.23, for a total transaction of $23,895,891.39.
  • On Monday, April 20th, Reed Hastings sold 54,369 shares of Netflix stock. The stock was sold at an average price of $438.69, for a total transaction of $23,851,136.61.

NFLX stock traded down $1.78 during trading hours on Tuesday, hitting $466.26. The company’s stock had a trading volume of 5,399,059 shares, compared to its average volume of 7,819,909. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $205.11 billion, a PE ratio of 94.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. Netflix, Inc. has a 12 month low of $252.28 and a 12 month high of $474.01. The stock has a 50 day moving average price of $433.05 and a two-hundred day moving average price of $375.81.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, April 21st. The Internet television network reported $1.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.07). The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Netflix had a return on equity of 30.83% and a net margin of 10.43%. The business’s revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 6.43 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Norges Bank bought a new stake in shares of Netflix during the 4th quarter worth $1,195,984,000. Capital International Investors boosted its holdings in shares of Netflix by 27.3% during the 1st quarter. Capital International Investors now owns 13,695,433 shares of the Internet television network’s stock worth $5,142,631,000 after buying an additional 2,936,451 shares during the period. Capital Research Global Investors boosted its holdings in shares of Netflix by 7.7% during the 4th quarter. Capital Research Global Investors now owns 38,002,047 shares of the Internet television network’s stock worth $12,296,322,000 after buying an additional 2,713,207 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Netflix by 181.8% during the 1st quarter. Wellington Management Group LLP now owns 3,373,506 shares of the Internet television network’s stock worth $1,266,751,000 after buying an additional 2,176,569 shares during the period. Finally, Capital World Investors boosted its holdings in Netflix by 13.1% in the 4th quarter. Capital World Investors now owns 14,480,179 shares of the Internet television network’s stock valued at $4,685,351,000 after purchasing an additional 1,682,813 shares during the period. 82.35% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Netflix from $194.00 to $198.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 22nd. Citigroup raised their price objective on shares of Netflix from $350.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Jefferies Financial Group reissued a “buy” rating and set a $520.00 price objective on shares of Netflix in a research note on Wednesday, June 17th. Oppenheimer raised their price objective on shares of Netflix from $400.00 to $480.00 in a research note on Wednesday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Netflix from $450.00 to $485.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $435.49.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Insider Buying and Selling by Quarter for Netflix (NASDAQ:NFLX)

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