Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 41,601 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, October 1st, Reed Hastings sold 45,290 shares of Netflix stock. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40.
• On Tuesday, September 3rd, Reed Hastings sold 25,074 shares of Netflix stock. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $780.21 on Thursday. The business’s 50-day moving average price is $717.59 and its two-hundred day moving average price is $667.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a one year low of $431.00 and a one year high of $781.49. The company has a market capitalization of $333.51 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. DigitalBridge Group Inc. grew 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. M&G Plc purchased a new position in Netflix in the first quarter valued at about $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Netflix by 7.7% in the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after buying an additional 8,700 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Netflix in the first quarter worth about $1,304,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. China Renaissance began coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Rosenblatt Securities raised their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Sanford C. Bernstein raised their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

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.