Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Chairman Sells 48,363 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

Shares of NASDAQ:NFLX traded up $4.43 during midday trading on Tuesday, reaching $902.17. The company had a trading volume of 2,397,309 shares, compared to its average volume of 3,650,809. The stock has a market cap of $385.64 billion, a P/E ratio of 51.06, a P/E/G ratio of 1.73 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The company’s 50 day moving average price is $780.46 and its 200 day moving average price is $704.75.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. UBS Group lifted their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Two research 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 company currently has an average rating of “Moderate Buy” and an average price target of $775.58.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $25,000. Denver PWM LLC bought a new stake in Netflix during the second quarter valued at approximately $25,000. Proffitt & Goodson Inc. lifted its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in 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 acquiring an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 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.