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

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $680.92, for a total value of $17,073,388.08.

Netflix Stock Performance

NASDAQ NFLX opened at $763.91 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52-week low of $429.61 and a 52-week high of $773.00. The business’s 50-day moving average price is $715.67 and its 200 day moving average price is $667.19. The firm has a market cap of $326.54 billion, a P/E ratio of 43.23, a P/E/G ratio of 1.46 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Netflix by 116,620.0% during the third 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 buying an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc raised its holdings in Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Netflix by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after purchasing an additional 83,762 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group set a $750.00 target price on Netflix in a report on Friday, October 18th. Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Canaccord Genuity Group increased their target price on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday, October 18th. Bank of America increased their target price on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.