Netflix (NFLX) Trading Down 1.1% After Insider Selling

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Shares of Netflix, Inc. (NASDAQ:NFLX) were down 1.1% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $335.83 and last traded at $344.58. Approximately 363,642 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 9,058,775 shares. The stock had previously closed at $348.30.

Specifically, General Counsel David A. Hyman sold 38,976 shares of Netflix stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $371.20, for a total transaction of $14,467,891.20. Following the completion of the sale, the general counsel now directly owns 43,895 shares in the company, valued at approximately $16,293,824. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David B. Wells sold 1,000 shares of Netflix stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $361.88, for a total value of $361,880.00. Following the sale, the chief financial officer now owns 722 shares of the company’s stock, valued at $261,277.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 414,830 shares of company stock valued at $151,827,994. 4.29% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on NFLX shares. Canaccord Genuity lifted their price target on Netflix from $350.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, July 12th. Imperial Capital reduced their price target on Netflix from $503.00 to $494.00 and set an “outperform” rating for the company in a report on Monday, August 13th. Zacks Investment Research upgraded Netflix from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Jefferies Financial Group reiterated a “neutral” rating and set a $320.00 price target on shares of Netflix in a report on Monday, August 20th. Finally, Morgan Stanley set a $480.00 price objective on Netflix and gave the company a “buy” rating in a research note on Thursday, July 12th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $349.29.

The company has a debt-to-equity ratio of 1.86, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $148.57 billion, a P/E ratio of 274.07, a P/E/G ratio of 4.26 and a beta of 0.90.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 16th. The Internet television network reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.94 billion. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. equities analysts predict that Netflix, Inc. will post 2.67 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. SP Asset Management acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $376,000. Ashburton Jersey Ltd acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $309,000. TPG Group Holdings SBS Advisors Inc. grew its holdings in shares of Netflix by 3.9% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 21,201 shares of the Internet television network’s stock worth $8,299,000 after purchasing an additional 790 shares in the last quarter. Sturgeon Ventures LLP grew its holdings in shares of Netflix by 37.3% during the 2nd quarter. Sturgeon Ventures LLP now owns 17,267 shares of the Internet television network’s stock worth $6,756,000 after purchasing an additional 4,688 shares in the last quarter. Finally, WealthTrust Fairport LLC grew its holdings in shares of Netflix by 133.3% during the 2nd quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock worth $137,000 after purchasing an additional 200 shares in the last quarter. 73.76% of the stock is currently owned by institutional investors.

About Netflix (NASDAQ:NFLX)

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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