Spencer Adam Neumann Sells 2,601 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. The trade was a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Spencer Adam Neumann also recently made the following trade(s):

• On Thursday, February 6th, Spencer Adam Neumann sold 685 shares of Netflix stock. The stock was sold at an average price of $1,009.57, for a total value of $691,555.45.
• On Thursday, January 30th, Spencer Adam Neumann sold 10,000 shares of Netflix stock. The shares were sold at an average price of $978.41, for a total transaction of $9,784,100.00.

Netflix Price Performance

Netflix stock opened at $990.92 on Thursday. The firm has a fifty day moving average of $950.95 and a 200-day moving average of $838.65. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $423.87 billion, a P/E ratio of 49.97, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.11 earnings per share. As a group, analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of NFLX. Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC boosted its stake in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp lifted its holdings in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and increased their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.