Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $23,360,364.00 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Reed Hastings also recently made the following trade(s):

• On Monday, March 3rd, Reed Hastings sold 30,485 shares of Netflix stock. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20.
• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The stock was sold at an average price of $978.39, for a total transaction of $31,374,032.13.
• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44.

Netflix Price Performance

NFLX stock opened at $855.86 on Friday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $366.10 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The business has a 50 day simple moving average of $970.24 and a 200-day simple moving average of $874.63.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company earned $2.11 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research analyst reports. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Wedbush restated an “outperform” rating and issued a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. UBS Group set a $1,000.00 price target on shares of Netflix in a research report on Monday, March 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,023.74.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the last quarter. First National Trust Co lifted its stake in shares of Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the last quarter. Haven Private LLC purchased a new position in shares of Netflix during the 4th quarter worth $733,000. Sigma Planning Corp raised its holdings in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after buying an additional 386 shares during the period. Finally, M&T Bank Corp lifted its position in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.