Netflix, Inc. (NASDAQ:NFLX) CEO Gregory K. Peters Sells 2,026 Shares

Key Points

• CEO Gregory K. Peters sold 2,026 shares of Netflix stock for approximately $2.34 million, resulting in a 13.68% decrease in his ownership.
• Netflix shares are currently trading up 2.7%, reaching $1,178.48, with a market capitalization of $500.77 billion.
• Recent analyst reports show a mix of ratings on Netflix, with price targets ranging from $1,100 to $1,515, and an average target price of $1,297.66.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Netflix Trading Up 2.5%

Shares of NFLX stock traded up $29.78 on Friday, reaching $1,210.15. 2,628,367 shares of the stock were exchanged, compared to its average volume of 4,218,336. The stock has a market cap of $514.23 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. 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 firm has a 50 day moving average of $1,232.06 and a two-hundred day moving average of $1,091.12. Netflix, Inc. has a 1-year low of $622.99 and a 1-year high of $1,341.15.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Barclays reaffirmed a "sell" rating and issued a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Piper Sandler lifted their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Institutional Trading of Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix during the fourth quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new stake in Netflix during the second quarter worth about $31,000. Transce3nd LLC acquired a new stake in Netflix during the fourth quarter worth about $32,000. Finally, Stephens Consulting LLC raised its stake in Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock worth $33,000 after acquiring an additional 15 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.