Jay C. Hoag Sells 22,504 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Jay C. Hoag sold 22,504 shares of Netflix stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $1,189.21, for a total value of $26,761,981.84. Following the completion of the sale, the director now directly owns 73,370 shares in the company, valued at approximately $87,252,337.70. This represents a 23.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Netflix Price Performance

Shares of NFLX traded up $10.86 during mid-day trading on Thursday, reaching $1,250.52. The company had a trading volume of 2,814,568 shares, compared to its average volume of 3,749,685. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $532.19 billion, a price-to-earnings ratio of 63.06, a P/E/G ratio of 2.12 and a beta of 1.58. The company's 50 day simple moving average is $1,075.18 and its 200 day simple moving average is $982.47.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Jefferies Financial Group lifted their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Rosenblatt Securities boosted their price target on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Finally, Wedbush reaffirmed an "outperform" rating and set a $1,200.00 price target on shares of Netflix in a research report on Monday, May 5th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,149.91.

Institutional Trading of Netflix

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 period. Norges Bank acquired a new position in Netflix during the 4th quarter worth about $5,019,087,000. Nuveen LLC acquired a new position in Netflix during the 1st quarter worth about $2,385,585,000. Proficio Capital Partners LLC lifted its holdings in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. 80.93% of the stock is 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.