Spencer Adam Neumann Sells 2,601 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Key Points

• Spencer Adam Neumann, CFO of Netflix, sold 2,601 shares of the company's stock on August 1st at an average price of $1,162.40, totaling approximately $3 million, resulting in a 41.34% decrease in his position.
• Netflix's latest quarterly earnings report showed $7.19 EPS, exceeding analyst expectations and marking a 15.9% revenue increase from the previous year, with total revenue of $11.08 billion.
• Major institutional investors have significantly increased their stakes in Netflix, with GAMMA Investing LLC raising its stake by an astonishing 109,524.3% in the first quarter.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,290,418.40. This represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Spencer Adam Neumann also recently made the following trade(s):

• On Tuesday, July 1st, Spencer Adam Neumann sold 2,601 shares of Netflix stock. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22.
• On Monday, June 2nd, Spencer Adam Neumann sold 2,601 shares of Netflix stock. The shares were sold at an average price of $1,211.67, for a total transaction of $3,151,553.67.
• On Tuesday, May 6th, Spencer Adam Neumann sold 686 shares of Netflix stock. The shares were sold at an average price of $1,141.28, for a total transaction of $782,918.08.

Netflix Stock Performance

NFLX traded up $12.39 during trading on Monday, reaching $1,170.99. 2,240,350 shares of the company's stock were exchanged, compared to its average volume of 4,025,656. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $497.59 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The company's fifty day simple moving average is $1,234.32 and its 200-day simple moving average is $1,085.67.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm posted $4.88 EPS. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Nuveen LLC acquired a new position in shares of Netflix in the 1st quarter valued at $2,385,585,000. Kingstone Capital Partners Texas LLC lifted its stake in shares of Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock valued at $3,299,450,000 after purchasing an additional 2,463,158 shares during the period. Goldman Sachs Group Inc. grew its stake in Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. Finally, Northern Trust Corp grew its stake in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Citigroup reissued a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Benchmark restated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Robert W. Baird upped their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

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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