Netflix (NASDAQ:NFLX) Trading Down 0.5% After Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLXGet Free Report) traded down 0.5% on Tuesday following insider selling activity. The stock traded as low as $626.44 and last traded at $630.34. 624,851 shares were traded during trading, a decline of 85% from the average session volume of 4,145,366 shares. The stock had previously closed at $633.79.

Specifically, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,994 shares of company stock valued at $42,036,266. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “hold” rating and set a $585.00 price objective (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Rosenblatt Securities increased their price objective on shares of Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Guggenheim increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Benchmark increased their price objective on shares of Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research report on Friday, May 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Netflix in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $632.00.

Get Our Latest Report on NFLX

Netflix Stock Performance

The business’s fifty day moving average is $610.95 and its two-hundred day moving average is $560.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $280.27 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.

Netflix (NASDAQ:NFLXGet Free Report) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of NFLX. Spartan Planning & Wealth Management bought a new stake in Netflix in the third quarter worth $26,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Netflix during the fourth quarter worth $32,000. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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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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