Netflix, Inc. (NASDAQ:NFLX) CFO Sells $795,428.85 in Stock

Key Points

• Spencer Adam Neumann, CFO of Netflix, sold 685 shares at an average price of $1,161.21, totaling approximately $795,428, decreasing his ownership by 15.65% to 3,691 shares.
• Netflix's stock price increased by 2.7% to $1,178.48, with recent trading volume showing 3,354,993 shares compared to its average volume.
• The company reported earnings of $7.19 per share, surpassing analysts' expectations and marking a 15.9% year-over-year revenue increase to $11.08 billion.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,286,026.11. This represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, August 1st, Spencer Adam Neumann sold 2,601 shares of Netflix stock. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40.
• 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 stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67.

Netflix Trading Up 2.5%

NASDAQ:NFLX traded up $29.78 during trading hours on Friday, hitting $1,210.15. 2,628,367 shares of the company were exchanged, compared to its average volume of 4,218,336. The stock has a market capitalization of $514.23 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a fifty day simple moving average of $1,232.06 and a 200 day simple moving average of $1,091.12. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a one year low of $622.99 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (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 during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the business earned $4.88 EPS. The company's revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Netflix by 9.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,516,710 shares of the Internet television network's stock valued at $2,031,072,000 after acquiring an additional 129,551 shares in the last quarter. Carl P. Sherr & Co. LLC boosted its holdings in Netflix by 79.5% during the 2nd quarter. Carl P. Sherr & Co. LLC now owns 1,705 shares of the Internet television network's stock worth $2,283,000 after acquiring an additional 755 shares during the last quarter. Financial Life Planners boosted its holdings in shares of Netflix by 200.6% in the 2nd quarter. Financial Life Planners now owns 965 shares of the Internet television network's stock worth $1,292,000 after buying an additional 644 shares during the last quarter. Kane Investment Management Inc. purchased a new position in shares of Netflix in the 2nd quarter worth about $1,280,000. Finally, RAM Investment Partners LLC raised its stake in Netflix by 5.6% in the 2nd quarter. RAM Investment Partners LLC now owns 563 shares of the Internet television network's stock valued at $754,000 after acquiring an additional 30 shares during the period. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. TD Cowen upped their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average price target 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.