Reed Hastings Sells 48,363 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06.
• 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 transaction of $31,981,986.40.

Netflix Stock Performance

NASDAQ NFLX traded up $4.43 during trading on Tuesday, reaching $902.17. The company’s stock had a trading volume of 2,397,309 shares, compared to its average volume of 3,650,809. The business’s fifty day moving average price is $780.46 and its 200-day moving average price is $704.75. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $385.64 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 1.73 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the third quarter valued at approximately $25,000. Denver PWM LLC acquired a new stake in Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its position in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NFLX shares. Loop Capital lifted their price target on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price target on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday. Piper Sandler reiterated 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. Oppenheimer upped their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, UBS Group increased their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $775.58.

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.