Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 19,943 Shares

Netflix, Inc. (NASDAQ:NFLXGet Free Report) Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $36,114.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, May 1st, Reed Hastings sold 18,361 shares of Netflix stock. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94.
  • On Monday, April 1st, Reed Hastings sold 20,566 shares of Netflix stock. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72.

Netflix Stock Performance

Shares of NFLX stock opened at $631.62 on Wednesday. The company has a market cap of $272.23 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.26. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $664.25. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $610.22 and a 200-day moving average of $559.92.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the firm posted $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Jefferies Financial Group reiterated a “buy” rating and set a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. Citigroup increased their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. JPMorgan Chase & Co. increased their target price on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Morgan Stanley increased their target price on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $632.00.

Read Our Latest Analysis on NFLX

Hedge Funds Weigh In On Netflix

Several large investors have recently bought and sold shares of NFLX. WealthPlan Investment Management LLC lifted its stake in Netflix by 98.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 897 shares of the Internet television network’s stock valued at $339,000 after acquiring an additional 445 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Netflix by 8.3% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 3,305 shares of the Internet television network’s stock worth $1,248,000 after buying an additional 252 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Netflix by 1.4% in the 3rd quarter. Spire Wealth Management now owns 8,444 shares of the Internet television network’s stock worth $3,189,000 after buying an additional 113 shares during the last quarter. Argent Trust Co boosted its holdings in shares of Netflix by 8.6% in the 3rd quarter. Argent Trust Co now owns 3,559 shares of the Internet television network’s stock worth $1,344,000 after buying an additional 283 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of Netflix in the 3rd quarter worth about $4,290,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

(Get Free Report)

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.

Read More

Insider Buying and Selling by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.