Netflix (NASDAQ:NFLX) Trading Down 0.1% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price fell 0.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $986.68 and last traded at $993.56. 1,070,350 shares changed hands during trading, a decline of 76% from the average session volume of 4,394,069 shares. The stock had previously closed at $994.87.

Specifically, Chairman Reed Hastings sold 32,067 shares of the stock in a transaction on 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 of the company’s stock, valued at $341,458.11. This represents a 98.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. In related news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NFLX shares. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Citigroup upped their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler reissued an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Performance

The company has a 50-day moving average of $909.38 and a 200-day moving average of $784.44. The firm has a market capitalization of $424.30 billion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.11 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in NFLX. Pathway Financial Advisers LLC raised its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. Newton One Investments LLC bought a new stake in Netflix in the fourth quarter worth approximately $34,000. Pineridge Advisors LLC raised its holdings in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. 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.