Netflix Inc. (NFLX) Shares Down 1.2% on Insider Selling
Shares of Netflix Inc. (NASDAQ:NFLX) traded down 1.2% on Monday after an insider sold shares in the company. The company traded as low as $102.76 and last traded at $103.59, with a volume of 5,328,824 shares trading hands. The stock had previously closed at $104.82.
Specifically, Director Jay C. Hoag acquired 600,000 shares of the stock in a transaction dated Monday, July 25th. The shares were acquired at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total transaction of $65,709.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the stock. FBR & Co restated a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG assumed coverage on shares of Netflix in a research note on Monday. They issued a “sell” rating and a $90.00 price objective on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Monday. Vetr downgraded shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 price objective on the stock. in a research note on Monday, October 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $94.00 price target on shares of Netflix in a research note on Tuesday, October 4th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $110.32.
The company has a market capitalization of $43.13 billion, a P/E ratio of 314.34 and a beta of 1.14. The stock has a 50-day moving average price of $98.56 and a 200 day moving average price of $96.35.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Analysts predict that Netflix Inc. will post $0.28 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares during the last quarter. Scopia Capital Management LP boosted its position in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock valued at $188,757,000 after buying an additional 656,585 shares during the last quarter. Natixis acquired a new position in Netflix during the first quarter valued at approximately $47,023,000. Private Capital Management Inc. acquired a new position in Netflix during the second quarter valued at approximately $631,000. Finally, Allen Investment Management LLC boosted its position in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock valued at $3,163,000 after buying an additional 778 shares during the last quarter. Institutional investors and hedge funds own 78.43% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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