Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $31,853,653.44 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06.

Netflix Stock Performance

Netflix stock opened at $881.05 on Monday. The firm’s 50 day simple moving average is $866.57 and its 200 day simple moving average is $746.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1-year low of $466.53 and a 1-year high of $941.75. The firm has a market capitalization of $376.61 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several analyst reports. Oppenheimer increased their price objective on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Citigroup upped their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Wells Fargo & Company raised their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, KeyCorp upped their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $813.00.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently modified their holdings of the business. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Netflix in the third quarter worth $1,517,000. Hedge funds and other 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.