Netflix, Inc. (NASDAQ:NFLX) CEO Theodore A. Sarandos Sells 2,026 Shares

Key Points

• Netflix CEO Theodore A. Sarandos sold 2,026 shares on August 5th at an average price of $1,160.62, totaling $2,351,416.12, resulting in an 11.78% decrease in his ownership.
• The company’s stock price increased by 2.7%, reaching $1,178.48, with a market capitalization of $500.77 billion and a P/E ratio of 50.21.
• Netflix reported $7.19 earnings per share for its last quarter, exceeding analysts' expectations, and has an average rating of "Moderate Buy" with a consensus target price of $1,297.66.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Netflix Stock Up 2.5%

Netflix stock traded up $29.78 during midday trading on Friday, reaching $1,210.15. The company's stock had a trading volume of 2,628,367 shares, compared to its average volume of 4,218,336. Netflix, Inc. has a fifty-two week low of $622.99 and a fifty-two week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $514.23 billion, a P/E ratio of 51.55, a P/E/G ratio of 1.98 and a beta of 1.59. The business has a 50-day simple moving average of $1,232.06 and a 200-day simple moving average of $1,091.12.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the firm earned $4.88 earnings per share. Netflix's quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and set a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Netflix by 2.4% during the second quarter. Geode Capital Management LLC now owns 9,926,733 shares of the Internet television network's stock worth $13,234,278,000 after purchasing an additional 229,182 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Netflix by 1.0% during the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock worth $4,844,436,000 after purchasing an additional 53,611 shares during the last quarter. 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.