Insider Selling: Netflix Insider Sells 5,000 Shares of Stock (NFLX)
Netflix (NASDAQ:NFLX) Insider Neil D. Hunt unloaded 5,000 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $455.80, for a total transaction of $2,279,000.00. Following the transaction, the insider now directly owns 80,786 shares of the company’s stock, valued at approximately $36,822,259. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Netflix (NASDAQ:NFLX) traded up 1.20% during mid-day trading on Thursday, hitting $472.35. 1,622,785 shares of the company’s stock traded hands. Netflix has a 52-week low of $219.33 and a 52-week high of $473.68. The stock has a 50-day moving average of $416.8 and a 200-day moving average of $388.9. The company has a market cap of $28.313 billion and a P/E ratio of 175.40. Netflix also was the target of some unusual options trading on Tuesday. Stock investors purchased 93,197 call options on the stock. This is an increase of approximately 221% compared to the average daily volume of 29,058 call options.
Netflix (NASDAQ:NFLX) last released its earnings data on Monday, April 21st. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.83 by $0.03. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts predict that Netflix will post $4.11 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Netflix from a “neutral” rating to a “buy” rating in a research note on Tuesday. They now have a $590.00 price target on the stock, up previously from $380.00. Separately, analysts at Barclays initiated coverage on shares of Netflix in a research note on Thursday, June 26th. They set an “underweight” rating and a $420.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Morgan Stanley initiated coverage on shares of Netflix in a research note on Tuesday, June 17th. They set an “overweight” rating and a $500.00 price target on the stock. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $403.85.
Netflix, Inc is an Internet television network with more than 44 million members in over 40 countries.
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