Netflix (NASDAQ:NFLX) Shares Down 0.9% on Insider Selling

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares traded down 0.9% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $700.00 and last traded at $704.96. 458,092 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 3,672,168 shares. The stock had previously closed at $711.09.

Specifically, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NFLX. Evercore ISI lifted their price target on Netflix from $710.00 to $750.00 and gave the company an "outperform" rating in a report on Tuesday, August 27th. Benchmark boosted their price target on Netflix from $450.00 to $545.00 and gave the stock a "sell" rating in a research note on Tuesday, July 16th. The Goldman Sachs Group boosted their target price on shares of Netflix from $650.00 to $659.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Argus boosted their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a "buy" rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley lifted their price objective on shares of Netflix from $700.00 to $780.00 and gave the company an "overweight" rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.03.

Netflix Price Performance

The company's 50-day simple moving average is $673.63 and its 200-day simple moving average is $646.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $304.63 billion, a PE ratio of 48.92, a P/E/G ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts' consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts' expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm's revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.29 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. DigitalBridge Group Inc. increased its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network's stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc acquired a new stake in Netflix during the 1st quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd grew its holdings in Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network's stock valued at $155,185,000 after buying an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network's stock worth $55,968,000 after buying an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Netflix during the fourth quarter valued at $9,513,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Company Profile

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.