Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 17,969 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 17,969 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $440.60, for a total value of $7,917,141.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Reed Hastings also recently made the following trade(s):

• On Tuesday, August 1st, Reed Hastings sold 20,188 shares of Netflix stock. The stock was sold at an average price of $440.16, for a total value of $8,885,950.08.
• On Monday, July 3rd, Reed Hastings sold 23,415 shares of Netflix stock. The stock was sold at an average price of $436.92, for a total value of $10,230,481.80.

Netflix Trading Up 2.0 %

NASDAQ NFLX opened at $448.68 on Wednesday. The firm has a market capitalization of $198.83 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.46 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.33 and a current ratio of 1.33. Netflix, Inc. has a one year low of $211.73 and a one year high of $485.00. The company’s 50 day moving average price is $432.57 and its 200 day moving average price is $378.96.

Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $3.20 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 11.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. The Goldman Sachs Group raised Netflix from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $230.00 to $400.00 in a research note on Wednesday, July 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $500.00 target price on shares of Netflix in a research note on Thursday, July 20th. Pivotal Research boosted their price target on shares of Netflix from $535.00 to $600.00 in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $410.00 to $475.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $500.00 target price on shares of Netflix in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $432.91.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baldrige Asset Management LLC increased its holdings in Netflix by 156.3% during the 1st quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Tanglewood Legacy Advisors LLC bought a new stake in shares of Netflix in the fourth quarter worth $29,000. Barrett & Company Inc. bought a new position in Netflix during the 1st quarter valued at $29,000. Manchester Capital Management LLC boosted its stake in Netflix by 8,700.0% during the 1st quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Finally, Retirement Group LLC increased its position in shares of Netflix by 52.6% in the 1st quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. 79.95% of the stock is owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.