Netflix (NASDAQ:NFLX) Stock Price Down 0.1% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX) was down 0.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $873.00 and last traded at $878.37. Approximately 644,420 shares traded hands during trading, a decline of 73% from the average daily volume of 2,396,961 shares. The stock had previously closed at $879.19.

Specifically, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Loop Capital cut shares of Netflix from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $800.00 to $950.00 in a research note on Monday, December 16th. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley lifted their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Pivotal Research boosted their price target on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $824.00.

Netflix Price Performance

The stock has a market cap of $358.08 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.77 and a beta of 1.27. 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 business has a 50 day simple moving average of $878.06 and a 200-day simple moving average of $752.69.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Graypoint LLC lifted its holdings in Netflix by 1.0% during the 4th quarter. Graypoint LLC now owns 4,325 shares of the Internet television network’s stock worth $3,855,000 after purchasing an additional 42 shares in the last quarter. RMR Wealth Builders lifted its holdings in shares of Netflix by 4.8% in the fourth quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock worth $4,335,000 after buying an additional 221 shares in the last quarter. HBW Advisory Services LLC boosted its position in shares of Netflix by 13.3% in the fourth quarter. HBW Advisory Services LLC now owns 4,114 shares of the Internet television network’s stock valued at $3,667,000 after acquiring an additional 482 shares during the period. Highline Wealth Partners LLC grew its stake in Netflix by 2.5% during the fourth quarter. Highline Wealth Partners LLC now owns 710 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares in the last quarter. Finally, ORG Wealth Partners LLC increased its holdings in Netflix by 5.8% during the 4th quarter. ORG Wealth Partners LLC now owns 760 shares of the Internet television network’s stock worth $677,000 after acquiring an additional 42 shares during the period. Institutional investors 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.