Netflix (NASDAQ:NFLX) Shares Gap Down Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $1,156.49, but opened at $1,114.80. Netflix shares last traded at $1,131.24, with a volume of 2,405,306 shares.

Specifically, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction on 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 of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $4,179,614.58. The trade was 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 business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now owns 79,040 shares of the company’s stock, valued at $87,099,708.80. The trade was 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 at this link.

Analyst Ratings Changes

NFLX has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Evercore ISI boosted their price target on Netflix from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Wedbush restated an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $1,200.00 target price (up previously from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Finally, Morgan Stanley raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,084.91.

Netflix Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $484.17 billion, a price-to-earnings ratio of 57.37, a P/E/G ratio of 2.12 and a beta of 1.58. The business’s 50 day moving average is $974.71 and its 200 day moving average is $925.04.

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

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in shares of Netflix by 7.7% in the 1st quarter. Assetmark Inc. now owns 27,366 shares of the Internet television network’s stock valued at $25,520,000 after buying an additional 1,952 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Netflix by 13.8% during the first quarter. Cetera Investment Advisers now owns 88,576 shares of the Internet television network’s stock worth $82,599,000 after purchasing an additional 10,725 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Netflix by 4.9% during the first quarter. Avantax Advisory Services Inc. now owns 25,287 shares of the Internet television network’s stock worth $23,580,000 after purchasing an additional 1,185 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of Netflix in the 1st quarter valued at about $3,460,000. Finally, Morling Financial Advisors LLC lifted its holdings in shares of Netflix by 39.2% in the 1st quarter. Morling Financial Advisors LLC now owns 469 shares of the Internet television network’s stock valued at $437,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds 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.