Netflix (NASDAQ:NFLX) Shares Down 2.7% on Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 2.7% on Monday after an insider sold shares in the company. The stock traded as low as $587.04 and last traded at $596.78. Approximately 1,236,927 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 3,922,209 shares. The stock had previously closed at $613.64.

Specifically, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders sold 73,415 shares of company stock worth $47,477,222 in the last quarter. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NFLX. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price objective on the stock. Bank of America lifted their price objective on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays boosted their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Jefferies Financial Group boosted their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Macquarie reaffirmed an “outperform” rating and set a $685.00 price objective on shares of Netflix in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $681.21.

Netflix Stock Performance

The stock has a market cap of $262.72 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day moving average price of $655.13 and a two-hundred day moving average price of $615.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.29 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares in the last quarter. Capital World Investors boosted its stake in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after purchasing an additional 78,320 shares during the last quarter. Jennison Associates LLC boosted its stake in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Norges Bank purchased a new stake in Netflix during the 4th quarter valued at $2,558,598,000. Finally, Baillie Gifford & Co. boosted its stake in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. 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.