Netflix, Inc. (NASDAQ:NFLX) Director Sells $35,830,554.55 in Stock

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Netflix Price Performance

Shares of NFLX traded up $23.02 during midday trading on Friday, hitting $1,156.49. The company's stock had a trading volume of 3,766,329 shares, compared to its average volume of 3,720,376. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a one year low of $565.16 and a one year high of $1,159.44. The stock has a market capitalization of $492.17 billion, a price-to-earnings ratio of 58.32, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company's fifty day simple moving average is $968.34 and its two-hundred day simple moving average is $917.85.

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. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. FBN Securities initiated coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. Benchmark reiterated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Barclays upped their price objective on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Argus lifted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,084.91.

Hedge Funds Weigh In On Netflix

Several large investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the fourth quarter worth approximately $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the fourth quarter worth approximately $32,000. Finally, Newton One Investments LLC bought a new stake in Netflix in the fourth quarter valued at approximately $34,000. 80.93% of the stock is currently owned by 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.