Traders Buy Netflix (NFLX) on Weakness on Insider Selling

Traders purchased shares of Netflix (NASDAQ:NFLX) on weakness during trading on Friday following insider selling activity. $1,105.62 million flowed into the stock on the tick-up and $911.78 million flowed out of the stock on the tick-down, for a money net flow of $193.84 million into the stock. Of all companies tracked, Netflix had the 7th highest net in-flow for the day. Netflix traded down ($5.12) for the day and closed at $288.85Specifically, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $211.27, for a total value of $147,889.00. Following the transaction, the director now owns 36,022 shares in the company, valued at approximately $7,610,367.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Friedland sold 3,180 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $211.64, for a total value of $673,015.20. Following the completion of the transaction, the insider now owns 1,032 shares in the company, valued at approximately $218,412.48. The disclosure for this sale can be found here. Insiders sold a total of 452,009 shares of company stock worth $121,912,410 in the last 90 days. 4.90% of the stock is currently owned by insiders.

Several brokerages recently issued reports on NFLX. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $329.00 price target on the stock in a research report on Friday. ValuEngine upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Monday. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $292.74 price target on the stock in a research report on Tuesday. Citigroup boosted their price target on Netflix from $250.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, March 28th. Finally, Robert W. Baird boosted their price target on Netflix from $240.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $257.79.

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The company has a market capitalization of $125,385.06, a price-to-earnings ratio of 231.08, a price-to-earnings-growth ratio of 3.97 and a beta of 0.99. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.40 and a quick ratio of 1.40.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. analysts anticipate that Netflix will post 2.73 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Netflix by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,400,513 shares of the Internet television network’s stock worth $842,878,000 after purchasing an additional 143,321 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Netflix by 4.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,798,067 shares of the Internet television network’s stock worth $729,077,000 after purchasing an additional 159,750 shares during the period. First Trust Advisors LP lifted its stake in shares of Netflix by 9.7% during the 4th quarter. First Trust Advisors LP now owns 1,979,971 shares of the Internet television network’s stock worth $380,075,000 after purchasing an additional 174,630 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Netflix by 22.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,934,754 shares of the Internet television network’s stock worth $371,396,000 after purchasing an additional 354,801 shares during the period. Finally, Tybourne Capital Management HK Ltd. increased its holdings in shares of Netflix by 43.4% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 1,673,200 shares of the Internet television network’s stock worth $321,187,000 after buying an additional 506,700 shares during the last quarter. 81.62% of the stock is currently owned by institutional investors.

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Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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