Netflix (NASDAQ:NFLX) Stock Price Down 1.8% Following Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) traded down 1.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $1,107.01 and last traded at $1,135.59. Approximately 2,968,547 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 3,720,049 shares. The stock had previously closed at $1,156.49.

Specifically, Director Reed Hastings sold 26,977 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the sale, the director now owns 394 shares in the company, valued at $446,421.70. This represents a 98.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $4,179,614.58. This represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now owns 79,040 shares in the company, valued at $87,099,708.80. This trade represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NFLX shares. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. The Goldman Sachs Group raised their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a research note on Thursday, January 23rd. Finally, Cfra Research upgraded Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,084.91.

Netflix Price Performance

The stock has a market capitalization of $482.62 billion, a PE ratio of 57.19, a PEG ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $971.22 and a 200-day moving average price of $923.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the company earned $8.28 EPS. Research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the period. Nordea Investment Management AB lifted its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. Capital Market Strategies LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $472,000. Insight Wealth Strategies LLC increased its position in shares of Netflix by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after buying an additional 12 shares during the period. Finally, Fortem Financial Group LLC raised its stake in Netflix by 17.6% in the fourth quarter. Fortem Financial Group LLC now owns 447 shares of the Internet television network’s stock worth $398,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.