Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings Sells 26,977 Shares

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director now directly owns 394 shares in the company, valued at $446,421.70. This trade represents a 98.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, April 1st, Reed Hastings sold 25,360 shares of Netflix stock. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00.
• On Monday, March 3rd, Reed Hastings sold 30,485 shares of Netflix stock. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20.
• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The stock was sold at an average price of $978.39, for a total value of $31,374,032.13.

Netflix Stock Performance

Shares of NFLX traded up $23.02 during midday trading on Friday, reaching $1,156.49. 3,766,329 shares of the stock were exchanged, compared to its average volume of 3,720,374. The stock's 50 day simple moving average is $964.76 and its 200 day simple moving average is $914.74. The company has a market cap of $492.17 billion, a P/E ratio of 58.32, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a twelve month low of $565.16 and a twelve month high of $1,159.03. 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 (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the company earned $8.28 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently made changes to their positions in NFLX. Vanguard Group Inc. lifted its position in Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC lifted its holdings in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC boosted its position in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank bought a new position in Netflix in the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NFLX shares. Needham & Company LLC restated a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an "overweight" rating in a report on Monday, April 21st. FBN Securities assumed coverage on shares of Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,072.12.

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.

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