Reed Hastings Sells 18,361 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, April 1st, Reed Hastings sold 20,566 shares of Netflix stock. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72.
• On Friday, March 1st, Reed Hastings sold 18,494 shares of Netflix stock. The shares were sold at an average price of $611.22, for a total transaction of $11,303,902.68.

Netflix Trading Up 2.5 %

NASDAQ:NFLX opened at $579.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $249.64 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 1.35 and a beta of 1.23. The firm has a fifty day simple moving average of $602.66 and a two-hundred day simple moving average of $524.81. Netflix, Inc. has a 12 month low of $317.95 and a 12 month high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $2.88 earnings per share. Analysts expect that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of large investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC lifted its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Indiana Trust & Investment Management CO lifted its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. VitalStone Financial LLC lifted its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix in the fourth quarter valued at $32,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at $25,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on NFLX. Macquarie increased their price objective on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Evercore ISI increased their price objective on shares of Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Bank of America increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Citigroup increased their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

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.