Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 35,868 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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.
• On Friday, November 1st, Reed Hastings sold 41,601 shares of Netflix stock. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06.

Netflix Price Performance

Shares of NFLX stock traded down $5.68 on Friday, reaching $881.05. 2,966,062 shares of the company were exchanged, compared to its average volume of 2,640,831. Netflix, Inc. has a 1 year low of $466.53 and a 1 year high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50-day moving average price of $864.05 and a 200 day moving average price of $744.71. The company has a market cap of $376.61 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in NFLX. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. increased its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp raised its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix during the third quarter worth $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. KeyCorp boosted their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $813.00.

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.