Netflix (NASDAQ:NFLX) Shares Down 0.5% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX) was down 0.5% on Thursday after an insider sold shares in the company. The company traded as low as $873.00 and last traded at $875.00. Approximately 2,343,756 shares changed hands during trading, a decline of 15% from the average daily volume of 2,747,146 shares. The stock had previously closed at $879.19.

Specifically, Director Richard N. Barton sold 6,364 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NFLX. Wells Fargo & Company lifted their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Macquarie restated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a report on Friday, October 18th. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup boosted their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, KeyCorp lifted their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $824.00.

Netflix Trading Down 4.3 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day simple moving average of $878.06 and a 200 day simple moving average of $752.69. The stock has a market capitalization of $358.08 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix in the 3rd quarter worth about $37,000. FSA Wealth Management LLC bought a new position in Netflix in the third quarter valued at about $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix during the third quarter valued at about $40,000. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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.