Insider Selling: Netflix CEO Sells 15,238 Shares of Stock (NFLX)
Netflix (NASDAQ:NFLX) CEO Reed Hastings sold 15,238 shares of the company’s stock on the open market in a transaction dated Monday, October 28th. The stock was sold at an average price of $325.00, for a total transaction of $4,952,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Netflix (NASDAQ:NFLX) traded down 2.80% during mid-day trading on Wednesday, hitting $318.14. The stock had a trading volume of 3,096,620 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 $270.9 and a 200-day moving average of $224.9. The company has a market cap of $18.852 billion and a P/E ratio of 273.21.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 21st. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.04. The company had revenue of $905.00 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.13 earnings per share. Netflix’s revenue was up 22.2% compared to the same quarter last year. Analysts expect that Netflix will post $1.73 EPS for the current fiscal year.
A number of analysts have recently weighed in on NFLX shares. Analysts at FBR & Co. downgraded shares of Netflix from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 25th. Separately, analysts at FBR Capital Markets initiated coverage on shares of Netflix in a research note to investors on Friday, October 25th. They set a “market perform” rating and a $350.00 price target on the stock. Finally, analysts at Macquarie raised their price target on shares of Netflix from $300.00 to $375.00 in a research note to investors on Wednesday, October 23rd. They now have a “neutral” rating on the stock. Six equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $303.14.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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