Netflix (NASDAQ:NFLX) Trading Down 2.4% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price dropped 2.4% during trading on Thursday following insider selling activity. The company traded as low as $900.47 and last traded at $912.64. Approximately 1,983,587 shares were traded during trading, a decline of 45% from the average daily volume of 3,592,440 shares. The stock had previously closed at $935.52.

Specifically, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,402,068.52. This trade represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Moffett Nathanson upgraded shares of Netflix from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $850.00 to $1,100.00 in a research report on Monday, March 17th. Barclays upgraded shares of Netflix from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Macquarie raised their price objective on Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a "hold" rating in a research report on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,023.74.

Netflix Stock Up 1.0 %

The business has a 50-day moving average price of $970.24 and a 200-day moving average price of $877.11. The stock has a market cap of $369.83 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.11 earnings per share. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the company. West Michigan Advisors LLC boosted its position in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after acquiring an additional 10 shares during the last quarter. Warwick Investment Management Inc. boosted its holdings in shares of Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC grew its stake in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after buying an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

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.