Insider Selling: Netflix CFO Sells 4,884 Shares of Stock (NFLX)
Netflix (NASDAQ:NFLX) CFO David Wells sold 4,884 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $298.98, for a total value of $1,460,218.32. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on NFLX. Analysts at Lazard Capital Markets raised their price target on shares of Netflix (NASDAQ:NFLX) from $325.00 to $350.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Netflix (NASDAQ:NFLX) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday. They now have a $300.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at BTIG Research downgraded shares of Netflix (NASDAQ:NFLX) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They noted that the move was a valuation call.
Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $232.42.
Netflix (NASDAQ:NFLX) traded down 2.24% during mid-day trading on Thursday, hitting $301.406. The stock had a trading volume of 3,137,316 shares. Netflix has a 1-year low of $53.05 and a 1-year high of $314.18. The stock has a 50-day moving average of $267.5 and a 200-day moving average of $223.4. The company has a market cap of $17.759 billion and a price-to-earnings ratio of 383.94. Netflix also was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 67,643 call options on the company. This is an increase of 105% compared to the average daily volume of 33,012 call options.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts predict that Netflix will post $1.49 earnings per share for the current fiscal year.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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