Netflix, Inc. (NASDAQ:NFLX – Get Free Report)’s stock price dropped 0.5% on Thursday after an insider sold shares in the company. The stock traded as low as $873.00 and last traded at $875.00. Approximately 2,343,756 shares were traded during trading, a decline of 15% from the average daily volume of 2,747,146 shares. The stock had previously closed at $879.19.
Specifically, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
NFLX has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research note on Wednesday. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC raised their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Loop Capital lowered shares of Netflix from a “buy” rating to a “hold” rating and upped their price objective for the company from $800.00 to $950.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $824.00.
Netflix Price Performance
The stock has a market capitalization of $358.08 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50 day moving average price is $878.06 and its 200 day moving average price is $752.69.
Netflix (NASDAQ:NFLX – Get Free Report) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix during the 3rd quarter worth about $38,000. Finally, First Personal Financial Services acquired a new position in Netflix during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Netflix Company Profile
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.
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