Reed Hastings Sells 25,360 Shares of Netflix, Inc. (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, March 3rd, Reed Hastings sold 30,485 shares of Netflix stock. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20.
• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The stock was sold at an average price of $978.39, for a total value of $31,374,032.13.
• 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 transaction of $31,853,653.44.

Netflix Stock Up 0.8 %

Shares of NASDAQ:NFLX traded up $7.14 during midday trading on Wednesday, hitting $935.52. 3,221,293 shares of the stock were exchanged, compared to its average volume of 3,591,552. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The business’s fifty day simple moving average is $974.40 and its two-hundred day simple moving average is $872.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $400.18 billion, a PE ratio of 47.18, a P/E/G ratio of 2.12 and a beta of 1.38.

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

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. West Michigan Advisors LLC grew its stake in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. lifted its position in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its position in shares of Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its stake in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after acquiring an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its stake in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on NFLX shares. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a report on Thursday, January 23rd. Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Oppenheimer raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Finally, Loop Capital reissued a “hold” rating on shares of Netflix in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.02.

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.