Investors Sell Shares of Netflix, Inc. (NFLX) on Strength Following Insider Selling

Investors sold shares of Netflix, Inc. (NASDAQ:NFLX) on strength during trading on Thursday after an insider sold shares in the company. $259.99 million flowed into the stock on the tick-up and $301.29 million flowed out of the stock on the tick-down, for a money net flow of $41.30 million out of the stock. Of all stocks tracked, Netflix had the 0th highest net out-flow for the day. Netflix traded up $3.39 for the day and closed at $195.51Specifically, CEO Reed Hastings sold 93,380 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $166.07, for a total transaction of $15,507,616.60. Following the completion of the sale, the chief executive officer now directly owns 93,380 shares of the company’s stock, valued at $15,507,616.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Friedland sold 3,617 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $203.35, for a total transaction of $735,516.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 344,072 shares of company stock valued at $63,582,550. 4.90% of the stock is owned by corporate insiders.

NFLX has been the subject of a number of analyst reports. Bank of America Corporation increased their price objective on shares of Netflix from $199.00 to $225.00 in a research note on Tuesday, October 17th. MKM Partners increased their price objective on shares of Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. BTIG Research increased their price objective on shares of Netflix from $170.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Netflix in a research note on Wednesday, August 16th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Netflix in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirty-two have assigned a buy rating to the stock. Netflix currently has an average rating of “Buy” and an average price target of $207.20.

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. The firm has a market cap of $84,600.00, a price-to-earnings ratio of 197.69, a price-to-earnings-growth ratio of 5.75 and a beta of 1.39.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business earned $0.12 earnings per share. Netflix’s revenue for the quarter was up 30.3% compared to the same quarter last year. research analysts anticipate that Netflix, Inc. will post 1.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its position in Netflix by 0.6% in the second quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock worth $229,000 after acquiring an additional 10 shares in the last quarter. Kalos Management Inc. raised its position in Netflix by 0.7% in the second quarter. Kalos Management Inc. now owns 1,621 shares of the Internet television network’s stock worth $242,000 after acquiring an additional 12 shares in the last quarter. Northwest Wealth Management LLC raised its position in Netflix by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 1,890 shares of the Internet television network’s stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Lincoln Capital Corp raised its position in Netflix by 1.0% in the second quarter. Lincoln Capital Corp now owns 2,020 shares of the Internet television network’s stock worth $302,000 after acquiring an additional 20 shares in the last quarter. Finally, Appropriate Balance Financial Services Inc. raised its position in Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after acquiring an additional 37 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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