Netflix, Inc. (NASDAQ:NFLX) CEO Sells $19,352,245.22 in Stock

Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings sold 51,898 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the transaction, the chief executive officer now owns 51,898 shares in the company, valued at approximately $19,352,245.22. 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, May 20th, Reed Hastings sold 57,414 shares of Netflix stock. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32.
  • On Monday, April 22nd, Reed Hastings sold 56,966 shares of Netflix stock. The stock was sold at an average price of $370.74, for a total transaction of $21,119,574.84.

Shares of NASDAQ:NFLX traded down $37.23 during midday trading on Thursday, reaching $325.21. 30,451,963 shares of the company’s stock were exchanged, compared to its average volume of 8,050,226. The stock has a 50 day moving average price of $362.06. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $160.02 billion, a PE ratio of 121.35, a price-to-earnings-growth ratio of 3.64 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $231.23 and a fifty-two week high of $386.80.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the company posted $0.85 EPS. Netflix’s revenue was up 26.0% compared to the same quarter last year. On average, analysts expect that Netflix, Inc. will post 3.35 EPS for the current year.

Several equities analysts recently weighed in on NFLX shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Incyte in a report on Monday, June 17th. Rosenblatt Securities reiterated a “neutral” rating and issued a $370.00 price target (up previously from $350.00) on shares of Netflix in a report on Wednesday, July 10th. Wolfe Research started coverage on shares of Netflix in a report on Thursday, June 20th. They issued an “outperform” rating and a $442.00 price target on the stock. Imperial Capital reiterated an “outperform” rating and issued a $78.00 price target (down previously from $83.00) on shares of Spirit Airlines in a report on Friday, April 26th. Finally, BMO Capital Markets cut their price target on shares of Comerica to $78.00 and set a “market perform” rating on the stock in a report on Thursday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix presently has an average rating of “Buy” and a consensus price target of $390.47.

A number of large investors have recently bought and sold shares of NFLX. Norges Bank acquired a new position in Netflix in the 4th quarter valued at about $1,209,406,000. Harris Associates L P raised its stake in Netflix by 90.8% in the 4th quarter. Harris Associates L P now owns 3,109,548 shares of the Internet television network’s stock valued at $832,301,000 after purchasing an additional 1,479,651 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in Netflix by 36,563.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 786,432 shares of the Internet television network’s stock valued at $78,643,000 after purchasing an additional 784,287 shares during the last quarter. FMR LLC grew its holdings in Netflix by 2.4% in the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock valued at $9,330,112,000 after buying an additional 605,419 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Netflix by 186.3% in the 4th quarter. Two Sigma Advisers LP now owns 763,935 shares of the Internet television network’s stock valued at $204,475,000 after buying an additional 497,137 shares during the period. Hedge funds and other institutional investors own 77.02% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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

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