Reed Hastings Sells 56,966 Shares of Netflix, Inc. (NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings sold 56,966 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the sale, the chief executive officer now owns 56,966 shares of the company’s stock, valued at approximately $21,119,574.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Wednesday, March 20th, Reed Hastings sold 52,458 shares of Netflix stock. The stock was sold at an average price of $367.25, for a total transaction of $19,265,200.50.
  • On Tuesday, February 19th, Reed Hastings sold 54,418 shares of Netflix stock. The stock was sold at an average price of $362.00, for a total transaction of $19,699,316.00.

Shares of NFLX opened at $368.33 on Friday. The company has a quick ratio of 1.49, a current ratio of 0.61 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $166.96 billion, a PE ratio of 137.44, a P/E/G ratio of 3.80 and a beta of 1.36. Netflix, Inc. has a 52-week low of $231.23 and a 52-week high of $423.21.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.19. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 3.35 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its holdings in Netflix by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock valued at $11,277,562,000 after acquiring an additional 249,147 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Netflix by 17,848.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock valued at $89,000 after acquiring an additional 23,798,143 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 9.0% during the 4th quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock valued at $2,569,238,000 after acquiring an additional 792,338 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Netflix by 1.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,629,879 shares of the Internet television network’s stock valued at $2,042,214,000 after acquiring an additional 136,096 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Netflix by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock valued at $1,427,434,000 after acquiring an additional 148,252 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

NFLX has been the subject of a number of recent research reports. BidaskClub cut shares of Netflix from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. SunTrust Banks reiterated a “buy” rating and set a $355.00 price target (down previously from $410.00) on shares of Netflix in a research note on Wednesday, January 2nd. Goldman Sachs Group reiterated a “conviction-buy” rating and set a $400.00 price target on shares of Netflix in a research note on Friday, January 4th. Barclays decreased their price target on shares of Netflix from $430.00 to $375.00 and set an “overweight” rating for the company in a research note on Monday, January 7th. Finally, Nomura reiterated a “neutral” rating and set a $300.00 price target on shares of Netflix in a research note on Monday, January 7th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $385.15.

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About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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