Netflix Inc. (NFLX) Shares Down 1.2% Following Insider Selling
Netflix Inc. (NASDAQ:NFLX)’s share price fell 1.2% during trading on Monday after an insider sold shares in the company. The stock traded as low as $102.76 and last traded at $103.59, with a volume of 5,328,824 shares traded. The stock had previously closed at $104.82.
Specifically, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total value of $133,882.00. Following the sale, the director now owns 15,562 shares in the company, valued at $1,488,194.06. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
A number of research firms have commented on NFLX. Needham & Company LLC downgraded Netflix from a “buy” rating to a “hold” rating and boosted their target price for the stock from $95.15 to $96.67 in a research report on Tuesday, July 5th. Bank of America Corp. reiterated a “buy” rating and set a $146.00 target price on shares of Netflix in a research report on Friday, August 26th. Wedbush boosted their target price on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 19th. Vetr downgraded Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a research report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $122.00 target price on shares of Netflix in a research report on Wednesday, September 7th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.52.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/netflix-inc-nflx-shares-down-1-2-following-insider-selling.html
The stock has a market cap of $44.35 billion, a price-to-earnings ratio of 323.25 and a beta of 1.14. The firm has a 50 day moving average price of $98.20 and a 200-day moving average price of $96.33.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business posted $0.06 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that Netflix Inc. will post $0.28 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its position in 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 acquired a new position in Netflix during the second quarter worth approximately $124,000. Quadrant Capital Group LLC boosted 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 during the last quarter. Coconut Grove Bank boosted 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 during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted 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 during the last quarter. Institutional investors own 78.43% of the company’s stock.
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.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.