Netflix (NASDAQ:NFLX) Director Reed Hastings Sells 40,374 Shares

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 40,374 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $1,121.51, for a total transaction of $45,279,844.74. Following the transaction, the director directly owned 394 shares of the company’s stock, valued at $441,874.94. The trade was a 99.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 1st, Reed Hastings sold 42,176 shares of Netflix stock. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92.
• On Tuesday, September 2nd, Reed Hastings sold 25,959 shares of Netflix stock. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89.

Netflix Stock Performance

Shares of NFLX traded down $7.13 during trading hours on Tuesday, reaching $1,092.96. 3,860,316 shares of the company’s stock traded hands, compared to its average volume of 4,014,092. Netflix, Inc. has a twelve month low of $756.27 and a twelve month high of $1,341.15. The business’s fifty day simple moving average is $1,190.62 and its two-hundred day simple moving average is $1,198.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $463.12 billion, a price-to-earnings ratio of 45.65, a P/E/G ratio of 1.91 and a beta of 1.59.

Netflix’s stock is going to split on the morning of Monday, November 17th. The 10-1 split was announced on Thursday, October 30th. The newly created shares will be payable to shareholders after the closing bell on Friday, November 14th.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The company had revenue of $11.51 billion during the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a net margin of 24.05% and a return on equity of 41.86%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NFLX. Vanguard Group Inc. increased its stake in shares of Netflix by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 38,379,084 shares of the Internet television network’s stock worth $51,394,583,000 after purchasing an additional 381,824 shares during the last quarter. State Street Corp boosted its holdings in Netflix by 2.1% in the second quarter. State Street Corp now owns 17,444,013 shares of the Internet television network’s stock worth $23,359,801,000 after purchasing an additional 360,604 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Geode Capital Management LLC increased its position in Netflix by 2.4% during the second quarter. Geode Capital Management LLC now owns 9,926,733 shares of the Internet television network’s stock worth $13,234,278,000 after buying an additional 229,182 shares during the last quarter. Finally, Norges Bank acquired a new position in Netflix during the second quarter worth $7,929,645,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NFLX shares. Citic Securities cut their price target on shares of Netflix from $1,280.00 to $1,250.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,500.00 target price on shares of Netflix in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Netflix in a research note on Wednesday, October 8th. Itau BBA Securities began coverage on shares of Netflix in a report on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 target price for the company. Finally, Arete upped their price target on Netflix from $833.00 to $1,084.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,340.22.

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.