Reed Hastings Sells 22,526 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, June 3rd, Reed Hastings sold 19,943 shares of Netflix stock. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94.
• On Wednesday, May 1st, Reed Hastings sold 18,361 shares of Netflix stock. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94.

Netflix Stock Up 0.8 %

NASDAQ NFLX traded up $5.54 during mid-day trading on Tuesday, reaching $679.15. 1,588,522 shares of the company’s stock traded hands, compared to its average volume of 3,958,841. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88. The company has a fifty day simple moving average of $631.31 and a 200-day simple moving average of $586.51. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $292.71 billion, a price-to-earnings ratio of 47.23, a P/E/G ratio of 1.46 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm earned $2.88 EPS. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America lifted their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research note on Monday, June 17th. BMO Capital Markets restated an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Barclays boosted their target price on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and reduced their price objective for the company from $720.00 to $585.00 in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $637.34.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of the business. Obermeyer Wood Investment Counsel Lllp increased its position in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the period. Private Portfolio Partners LLC increased its position in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the period. KFA Private Wealth Group LLC grew its stake in shares of Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. increased its holdings in Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its holdings in Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds 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.