Netflix (NASDAQ:NFLX) Stock Price Down 2.7% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price fell 2.7% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $1,194.10 and last traded at $1,191.92. 1,229,633 shares changed hands during trading, a decline of 67% from the average session volume of 3,743,091 shares. The stock had previously closed at $1,224.46.

Specifically, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NFLX. Barclays lifted their price target on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Loop Capital reissued a “hold” rating on shares of Netflix in a report on Monday, March 24th. Wells Fargo & Company lifted their price target on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Moffett Nathanson reissued a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

Netflix Price Performance

The stock has a market cap of $512.23 billion, a P/E ratio of 60.70, a P/E/G ratio of 2.12 and a beta of 1.59. 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 company’s 50 day simple moving average is $1,099.31 and its 200 day simple moving average is $992.93.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% during the fourth 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 during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the fourth quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix during the fourth quarter worth $32,000. Finally, Pineridge Advisors LLC boosted its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.