Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Director Sells 26,933 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Reed Hastings sold 26,933 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director now directly owns 394 shares of the company's stock, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, May 1st, Reed Hastings sold 26,977 shares of Netflix stock. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85.
• 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 value of $23,360,364.00.

Netflix Stock Up 0.8%

Netflix stock traded up $9.69 during midday trading on Thursday, hitting $1,249.35. The stock had a trading volume of 1,989,636 shares, compared to its average volume of 4,553,672. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $531.69 billion, a P/E ratio of 63.00, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The business has a fifty day moving average price of $1,075.18 and a 200 day moving average price of $982.47.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the company earned $8.28 earnings per share. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Jefferies Financial Group raised their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday. Moffett Nathanson restated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,149.91.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings 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 valued at $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $34,000. 80.93% of the stock is owned by 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.