Traders Buy Netflix (NFLX) on Weakness Following Insider Selling
Investors purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Wednesday after an insider sold shares in the company. $714.48 million flowed into the stock on the tick-up and $655.76 million flowed out of the stock on the tick-down, for a money net flow of $58.72 million into the stock. Of all companies tracked, Netflix had the 15th highest net in-flow for the day. Netflix traded down ($11.03) for the day and closed at $188.15Specifically, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $195.69, for a total transaction of $195,690.00. Following the sale, the chief financial officer now directly owns 662 shares of the company’s stock, valued at $129,546.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 75,467 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $185.02, for a total transaction of $13,962,904.34. Following the sale, the chief executive officer now directly owns 75,467 shares in the company, valued at $13,962,904.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,935 shares of company stock valued at $62,898,922. 4.90% of the stock is owned by company insiders.
NFLX has been the topic of several recent research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $215.00 price objective (up from $198.00) on shares of Netflix in a report on Tuesday, August 8th. Jefferies Group reaffirmed a “hold” rating and set a $165.00 price objective (down from $171.80) on shares of Netflix in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Wedbush reaffirmed a “sell” rating on shares of Netflix in a report on Wednesday, August 9th. Finally, Vetr raised shares of Netflix from a “sell” rating to a “hold” rating and set a $165.75 price objective on the stock in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $207.51.
The company has a market capitalization of $86,190.00, a P/E ratio of 197.73, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. sell-side analysts expect that Netflix, Inc. will post 1.26 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. Balentine LLC grew its position in Netflix by 1,020.4% during the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock valued at $100,000 after acquiring an additional 500 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in Netflix during the second quarter valued at approximately $101,000. Aviance Capital Management LLC bought a new position in Netflix during the second quarter valued at approximately $137,000. Captrust Financial Advisors bought a new position in Netflix during the second quarter valued at approximately $139,000. Finally, Harbour Capital Advisors LLC grew its position in Netflix by 14,840.7% during the second quarter. Harbour Capital Advisors LLC now owns 20,917 shares of the Internet television network’s stock valued at $140,000 after acquiring an additional 20,777 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
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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