Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Director Sells $23,725,077.75 in Stock

Netflix, Inc. (NASDAQ:NFLX) Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Netflix Stock Performance

Shares of NFLX stock opened at $674.07 on Friday. The business’s 50 day moving average is $654.47 and its two-hundred day moving average is $621.20. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $697.49. The company has a market capitalization of $290.52 billion, a P/E ratio of 46.78, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The company 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%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. Analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Netflix

Institutional investors have recently added to or reduced their stakes in the stock. Obermeyer Wood Investment Counsel Lllp raised its position in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares in the last quarter. Private Portfolio Partners LLC boosted its holdings in shares of Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after buying an additional 17 shares during the period. FAS Wealth Partners Inc. grew its position in shares of Netflix by 1.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after buying an additional 17 shares during the last quarter. Clear Point Advisors Inc. raised its stake in Netflix by 3.9% during the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after acquiring an additional 17 shares during the period. Finally, KFA Private Wealth Group LLC lifted its holdings in Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFLX shares. Argus boosted their price objective on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Macquarie restated an “outperform” rating and set a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, UBS Group boosted their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

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.