Netflix (NASDAQ:NFLX) Stock Price Down 1% After Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 1% during trading on Friday after an insider sold shares in the company. The stock traded as low as $702.24 and last traded at $704.37. Approximately 648,687 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,704,681 shares. The stock had previously closed at $711.43.

Specifically, Director Leslie J. Kilgore sold 402 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NFLX shares. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Tuesday, July 30th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. KeyCorp lifted their price objective on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. Finally, Jefferies Financial Group lifted their price objective on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Performance

The firm has a market cap of $304.87 billion, a PE ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day moving average price of $669.62 and a 200 day moving average price of $644.66.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. Wellington Management Group LLP grew its position in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. GQG Partners LLC purchased a new stake in Netflix during the first quarter valued at about $1,450,476,000. Jennison Associates LLC grew its position in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC purchased a new stake in Netflix during the first quarter valued at about $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in Netflix during the first quarter valued at about $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.