Netflix, Inc. (NASDAQ:NFLX) Director Sells $39,762,112.50 in Stock

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now owns 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Netflix Stock Down 1.4%

NASDAQ:NFLX traded down $17.01 during mid-day trading on Monday, hitting $1,224.46. 2,398,940 shares of the company's stock traded hands, compared to its average volume of 3,752,156. The company has a fifty day moving average of $1,087.80 and a 200 day moving average of $989.18. The company has a market capitalization of $521.09 billion, a P/E ratio of 61.75, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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 return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the company earned $8.28 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Institutional Investors Weigh In On Netflix

Hedge funds have recently made changes to their positions in the company. Capital & Planning LLC purchased a new stake in shares of Netflix in the 4th quarter worth about $809,000. Brighton Jones LLC increased its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Netflix during the fourth quarter worth $12,212,000. Revolve Wealth Partners LLC boosted its stake in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. Finally, Vest Financial LLC increased its stake in shares of Netflix by 9.9% in the 4th quarter. Vest Financial LLC now owns 1,971 shares of the Internet television network's stock valued at $1,757,000 after buying an additional 177 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NFLX. Wedbush restated an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Moffett Nathanson restated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Bank of America boosted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,149.91.

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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