Netflix (NASDAQ:NFLX) Stock Price Down 1% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares dropped 1% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $1,139.66 and last traded at $1,143.66. Approximately 1,135,374 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 3,721,463 shares. The stock had previously closed at $1,155.41.

Specifically, CEO Gregory K. Peters sold 2,027 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the sale, the chief executive officer now directly owns 12,781 shares in the company, valued at $14,589,639.31. This represents a 13.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 686 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $1,141.28, for a total value of $782,918.08. Following the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at approximately $4,212,464.48. This trade represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Cletus R. Willems sold 298 shares of Netflix stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares of the company's stock, valued at $35,972,180. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFLX. Citigroup reaffirmed a "neutral" rating on shares of Netflix in a report on Monday. Bank of America boosted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. UBS Group dropped their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, StockNews.com cut Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,084.91.

Netflix Stock Performance

The firm has a 50 day moving average price of $978.21 and a 200-day moving average price of $926.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $485.84 billion, a P/E ratio of 57.57, a P/E/G ratio of 2.12 and a beta of 1.58.

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 analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Institutional Trading of Netflix

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after purchasing an additional 198,148 shares during the period. First County Bank CT acquired a new position in Netflix in the fourth quarter valued at about $233,000. Park National Corp OH bought a new position in shares of Netflix in the fourth quarter valued at approximately $217,000. Worth Asset Management LLC increased its holdings in Netflix by 210.3% during the 4th quarter. Worth Asset Management LLC now owns 3,094 shares of the Internet television network's stock valued at $2,758,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Private Client Services LLC acquired a new stake in shares of Netflix in the fourth quarter valued at $234,000. Institutional investors 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.

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