Insider Selling: Netflix, Inc. (NFLX) CEO Sells 75,467 Shares of Stock
Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings sold 75,467 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $185.02, for a total value of $13,962,904.34. Following the transaction, the chief executive officer now directly owns 75,467 shares of the company’s stock, valued at $13,962,904.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Reed Hastings also recently made the following trade(s):
- On Monday, August 21st, Reed Hastings sold 93,380 shares of Netflix stock. The stock was sold at an average price of $166.07, for a total value of $15,507,616.60.
- On Monday, July 24th, Reed Hastings sold 109,214 shares of Netflix stock. The stock was sold at an average price of $188.61, for a total value of $20,598,852.54.
Shares of Netflix, Inc. (NASDAQ NFLX) traded up 1.76% on Thursday, reaching $188.78. 7,147,709 shares of the company traded hands. The stock has a 50-day moving average price of $175.28 and a 200 day moving average price of $160.06. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50. The firm has a market capitalization of $81.51 billion, a P/E ratio of 229.66 and a beta of 1.05.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Analysts anticipate that Netflix, Inc. will post $1.17 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Intl Fcstone Inc. bought a new stake in Netflix in the 2nd quarter valued at $278,000. Navellier & Associates Inc purchased a new position in shares of Netflix in the 2nd quarter worth $492,000. USA Financial Portformulas Corp purchased a new position in shares of Netflix in the 2nd quarter worth $6,229,000. Toronto Dominion Bank grew its stake in shares of Netflix by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock worth $21,810,000 after buying an additional 29,867 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Netflix in the 2nd quarter worth $445,000. Institutional investors own 81.03% of the company’s stock.
Several research analysts recently issued reports on NFLX shares. Instinet reaffirmed a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein set a $203.00 target price on Netflix and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Canaccord Genuity raised their target price on Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 target price (up from $175.00) on shares of Netflix in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Netflix in a research report on Friday, June 16th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $178.90.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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