Reed Hastings Sells 32,067 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 32,067 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $978.39, for a total transaction of $31,374,032.13. Following the transaction, the chairman now directly owns 349 shares in the company, valued at approximately $341,458.11. This represents a 98.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44.
• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80.

Netflix Stock Performance

Shares of NFLX stock opened at $994.87 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,008.00. The business’s 50 day simple moving average is $906.93 and its 200 day simple moving average is $781.90. The stock has a market capitalization of $425.57 billion, a PE ratio of 50.17, a PEG ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. State Street Corp grew its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after buying an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Pivotal Research raised their price objective on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Argus increased their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Evercore ISI increased their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

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.