Netflix, Inc. (NASDAQ:NFLX – Get Free Report) was down 2.7% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $1,194.10 and last traded at $1,191.92. Approximately 1,229,633 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 3,743,091 shares.
The stock had previously closed at $1,224.46. Get Netflix alerts: Sign Up Specifically, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50.
Following the transaction, the director now directly owns 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Also, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here.
Analyst Upgrades and Downgrades Several research firms have recently commented on NFLX. Needham & Company LLC reissued a "buy" rating and set a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Rosenblatt Securities boosted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st.
KeyCorp increased their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th.
Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,149.91. View Our Latest Stock Analysis on Netflix Netflix Trading Down 1.7% The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.
The firm has a market capitalization of $512.23 billion, a P/E ratio of 60.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The firm's 50-day simple moving average is $1,093.58 and its 200-day simple moving average is $991.46. Netflix (NASDAQ:NFLX – Get Free Report) last announced its earnings results on Thursday, April 17th.
The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%.
During the same period in the previous year, the business earned $8.28 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year. Institutional Trading of Netflix Several hedge funds have recently added to or reduced their stakes in the business.
GAMMA Investing LLC increased its stake in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth about $5,019,087,000.
Nuveen LLC purchased a new position in Netflix during the 1st quarter valued at about $2,385,585,000. Proficio Capital Partners LLC increased its holdings in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period.
Finally, Goldman Sachs Group Inc. raised its position in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after purchasing an additional 1,236,251 shares during the last quarter. 80.93% of the stock is owned by institutional investors.
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.
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