Netflix (NASDAQ:NFLX) Shares Down 1.8% Following Insider Selling

by · The Markets Daily

Netflix, Inc. (NASDAQ:NFLX – Get Free Report)’s share price traded down 1.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $1,107.01 and last traded at $1,135.59. 2,968,547 shares were traded during mid-day trading, a decline of 20% from the average session volume of 3,720,049 shares. The stock had previously closed at $1,156.49.

Specifically, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director now directly owns 394 shares of the company’s stock, valued at $446,421.70. The trade was a 98.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Oppenheimer restated an “outperform” rating and set a $1,200.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Arete Research upgraded shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Wells Fargo & Company boosted their target price on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,084.91.

Check Out Our Latest Stock Report on Netflix

Netflix Stock Down 1.9 %

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $482.91 billion, a P/E ratio of 57.23, a P/E/G ratio of 2.12 and a beta of 1.55. The firm’s fifty day moving average is $968.34 and its 200-day moving average is $920.97.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted 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 last quarter. Norges Bank bought a new position in shares of Netflix in the 4th quarter worth $5,019,087,000. Proficio Capital Partners LLC increased its holdings in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the period. Institutional investors own 80.93% of the company’s stock.

About Netflix

(Get Free Report)

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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