Netflix (NASDAQ:NFLX) Stock Price Down 2.4% After Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) dropped 2.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $900.47 and last traded at $912.64. Approximately 1,983,587 shares changed hands during trading, a decline of 45% from the average daily volume of 3,592,440 shares. The stock had previously closed at $935.52.

Specifically, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. This represents a 41.34 % decrease in their position. The disclosure for this sale can be found here.

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Analysts Set New Price Targets

A number of analysts have recently commented on NFLX shares. Bank of America lifted their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. UBS Group set a $1,000.00 target price on shares of Netflix in a report on Monday, March 24th. Phillip Securities cut shares of Netflix from a "hold" rating to a "moderate sell" rating in a research report on Friday, January 24th. StockNews.com lowered shares of Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein raised Netflix from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,023.74.

Netflix Trading Down 6.7 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $366.10 billion, a PE ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.38. The firm's fifty day moving average is $970.24 and its two-hundred day moving average is $874.63.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Netflix

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB raised its position in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after acquiring an additional 156,958 shares during the period. First National Trust Co raised its holdings in shares of Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock worth $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC purchased a new position in Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp grew its holdings in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp increased its position in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after buying an additional 1,684 shares during the last quarter. 80.93% of the stock is currently 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.