Reed Hastings Sells 42,176 Shares of Netflix (NASDAQ:NFLX) Stock

Key Points

• Reed Hastings, Netflix's Director, sold 42,176 shares of stock for approximately $49.4 million, significantly reducing his ownership by 99.07% to just 394 shares.
• Netflix's stock is currently trading at $1,162.53 with a market capitalization of $493.99 billion, after a trading volume higher than its average.
• Recent analyst ratings show a positive outlook for Netflix, with the majority of analysts issuing buy ratings and target prices significantly exceeding the current stock price.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company's stock, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 2nd, Reed Hastings sold 25,959 shares of Netflix stock. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89.
• 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.

Netflix Price Performance

NFLX traded down $8.37 during trading on Thursday, reaching $1,162.53. The stock had a trading volume of 4,677,433 shares, compared to its average volume of 3,066,606. The firm has a market capitalization of $493.99 billion, a price-to-earnings ratio of 49.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.59. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The stock has a 50 day moving average of $1,208.27 and a two-hundred day moving average of $1,155.95. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. The business's quarterly 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. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Loop Capital raised shares of Netflix from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Barclays reissued a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,334.03.

Institutional Trading of Netflix

Several large investors have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Netflix in the second quarter worth about $31,000. Stephens Consulting LLC grew its holdings in shares of Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock worth $33,000 after purchasing an additional 15 shares during the last quarter. Rossby Financial LCC purchased a new stake in Netflix in the second quarter worth about $35,000. Finally, Flaharty Asset Management LLC purchased a new stake in Netflix in the first quarter worth about $37,000. 80.93% of the stock is currently owned by institutional investors.

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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