Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 32,067 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 32,067 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $978.39, for a total value of $31,374,032.13. Following the completion of the sale, the chairman now owns 349 shares of the company’s stock, valued at $341,458.11. This represents a 98.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44.
• On Monday, December 2nd, Reed Hastings sold 48,363 shares of Netflix stock. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80.

Netflix Stock Up 1.6 %

Netflix stock opened at $994.87 on Wednesday. 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 moving average is $906.93 and its 200-day moving average is $781.90. The firm has a market capitalization of $425.57 billion, a PE ratio of 50.17, a P/E/G ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,008.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFLX shares. Oppenheimer increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Loop Capital lifted their price objective on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Institutional Investors Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the 3rd quarter worth about $25,000. Pathway Financial Advisers LLC lifted its position 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 acquiring an additional 14 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 42 shares during the period. Newton One Investments LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $34,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the third quarter worth approximately $37,000. Institutional investors 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.