Netflix Inc. (NFLX) CEO Reed Hastings Sells 84,665 Shares
Netflix Inc. (NASDAQ:NFLX) CEO Reed Hastings sold 84,665 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $98.47, for a total transaction of $8,336,962.55. Following the completion of the transaction, the chief executive officer now directly owns 68,065 shares in the company, valued at $6,702,360.55. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Reed Hastings also recently made the following trade(s):
- On Monday, August 22nd, Reed Hastings sold 102,340 shares of Netflix stock. The stock was sold at an average price of $95.21, for a total transaction of $9,743,791.40.
- On Thursday, July 21st, Reed Hastings sold 116,431 shares of Netflix stock. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29.
Netflix Inc. (NASDAQ:NFLX) traded down 3.43% during midday trading on Wednesday, reaching $94.88. 20,042,236 shares of the company were exchanged. The firm has a market cap of $40.68 billion, a P/E ratio of 296.50 and a beta of 1.71. The firm’s 50-day moving average is $96.62 and its 200-day moving average is $96.19. Netflix Inc. has a one year low of $79.95 and a one year high of $133.27.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Netflix Inc. will post $0.29 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the company. Cornerstone Advisors Inc. raised its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Netflix during the second quarter worth approximately $124,000. Quadrant Capital Group LLC raised its stake in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank raised its stake in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares in the last quarter. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
NFLX has been the topic of a number of research reports. Zacks Investment Research raised shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, June 21st. Nomura reissued a “buy” rating and issued a $115.00 target price (down from $125.00) on shares of Netflix in a research note on Monday, June 20th. Vetr lowered shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $106.59 target price on the stock. in a research note on Thursday, June 16th. MKM Partners set a $145.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday, May 26th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Netflix in a research note on Tuesday, May 24th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.46.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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