Netflix (NASDAQ:NFLX) Director Reed Hastings Sells 25,959 Shares

Key Points

• Reed Hastings, Director of Netflix, sold 25,959 shares of the company at an average price of $1,207.71, totaling approximately $31.35 million, resulting in a drastic 98.50% decrease in his ownership.
• Following the share sale, Netflix's stock rose by 1.0%, with the stock trading at $1,226.18 and a market capitalization of $521.04 billion.
• Wall Street analysts maintain a generally positive outlook on Netflix, with a consensus rating of "Moderate Buy" and a price target around $1,297.66.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Reed Hastings sold 25,959 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $475,837.74. The trade was a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, August 1st, Reed Hastings sold 22,765 shares of Netflix stock. The stock was sold at an average price of $1,162.46, for a total value of $26,463,401.90.
• On Tuesday, July 1st, Reed Hastings sold 16,840 shares of Netflix stock. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20.
• On Tuesday, July 1st, Reed Hastings sold 9,673 shares of Netflix stock. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03.

Netflix Stock Up 1.0%

Shares of NFLX stock traded up $12.07 on Wednesday, hitting $1,226.18. 2,464,635 shares of the stock were exchanged, compared to its average volume of 2,584,598. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $521.04 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60. The business has a 50-day moving average of $1,227.93 and a 200 day moving average of $1,120.98. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company posted $4.88 earnings per share. Netflix's revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Oppenheimer increased their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Needham & Company LLC reissued a "buy" rating and set a $1,500.00 price target on shares of Netflix in a research report on Friday, July 18th. Finally, Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the company. Brighton Jones LLC raised its position in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the period. Ancora Advisors LLC grew its stake in shares of Netflix by 7.1% in the 4th quarter. Ancora Advisors LLC now owns 1,222 shares of the Internet television network's stock valued at $1,089,000 after buying an additional 81 shares during the period. Cary Street Partners Financial LLC bought a new stake in Netflix during the 4th quarter worth approximately $1,945,000. Finally, Bridgefront Capital LLC bought a new stake in Netflix during the 4th quarter worth approximately $218,000. Institutional investors and hedge funds own 80.93% of the company's stock.

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.

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