Netflix (NASDAQ:NFLX) Trading Down 1.3% Following Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLXGet Free Report) dropped 1.3% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $605.51 and last traded at $606.43. Approximately 537,524 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,449,228 shares. The stock had previously closed at $614.31.

Specifically, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last three months. Insiders own 2.45% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. BMO Capital Markets increased their target price on Netflix from $566.00 to $638.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their price target on Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group increased their price objective on shares of Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Netflix from a “buy” rating to a “hold” rating and raised their target price for the company from $460.00 to $525.00 in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $583.18.

Check Out Our Latest Analysis on NFLX

Netflix Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $275.28 billion, a P/E ratio of 52.46, a P/E/G ratio of 1.66 and a beta of 1.22. The company’s 50 day moving average price is $593.46 and its 200-day moving average price is $494.58.

Netflix (NASDAQ:NFLXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. During the same period in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 17.01 earnings per share for the current year.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after purchasing an additional 178,286 shares during the period. State Street Corp lifted its stake in Netflix by 3.1% in the second quarter. State Street Corp now owns 16,699,906 shares of the Internet television network’s stock valued at $7,356,142,000 after buying an additional 504,416 shares during the period. Capital World Investors lifted its stake in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Morgan Stanley boosted its holdings in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after buying an additional 644,162 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

About Netflix

(Get Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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