Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings Sells 30,485 Shares

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The shares were 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 shares were sold at an average price of $888.08, for a total value of $31,853,653.44.

Netflix Stock Up 1.9 %

Shares of NASDAQ NFLX opened at $990.92 on Thursday. The business has a 50-day moving average price of $950.95 and a 200 day moving average price of $838.65. The stock has a market cap of $423.87 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Audent Global Asset Management LLC raised its holdings in shares of Netflix by 126.6% in the fourth quarter. Audent Global Asset Management LLC now owns 5,840 shares of the Internet television network’s stock valued at $5,205,000 after buying an additional 3,263 shares during the last quarter. Siemens Fonds Invest GmbH increased its position in Netflix by 156.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 28,830 shares of the Internet television network’s stock valued at $25,697,000 after acquiring an additional 17,594 shares during the period. Park Square Financial Group LLC purchased a new stake in Netflix during the 4th quarter valued at approximately $356,000. Total Wealth Planning & Management Inc. acquired a new stake in Netflix during the 4th quarter worth approximately $222,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Netflix during the 4th quarter worth approximately $355,076,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NFLX. Macquarie boosted their price objective on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. KeyCorp boosted their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.70.

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.