Netflix, Inc. (NASDAQ:NFLX) Director Sells $21,820,935.20 in Stock

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Reed Hastings sold 16,840 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20. Following the sale, the director directly owned 10,067 shares of the company's stock, valued at $13,044,617.26. The trade was a 62.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, July 1st, Reed Hastings sold 9,673 shares of Netflix stock. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03.
• On Monday, June 2nd, Reed Hastings sold 26,933 shares of Netflix stock. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78.
• On Thursday, May 1st, Reed Hastings sold 26,977 shares of Netflix stock. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85.

Netflix Trading Up 0.8%

Shares of NASDAQ:NFLX traded up $10.38 during trading on Friday, hitting $1,295.24. 2,006,224 shares of the company's stock were exchanged, compared to its average volume of 3,761,661. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market cap of $551.21 billion, a P/E ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59. The firm has a 50-day moving average price of $1,204.00 and a two-hundred day moving average price of $1,034.00. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the business earned $8.28 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Oppenheimer raised their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Wells Fargo & Company raised their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. 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. Jefferies Financial Group increased their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average target price of $1,182.58.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of Netflix in the 4th quarter valued at $873,000. New England Research & Management Inc. grew its holdings in shares of Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares during the period. First National Trust Co increased its position in shares of Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after buying an additional 12 shares in the last quarter. Finally, Haven Private LLC acquired a new stake in Netflix during the 4th quarter worth $733,000. Institutional investors 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.