Traders Sell Shares of Netflix (NFLX) on Strength on Insider Selling

Traders sold shares of Netflix, Inc. (NASDAQ:NFLX) on strength during trading hours on Tuesday after an insider sold shares in the company. $1,766.55 million flowed into the stock on the tick-up and $1,818.81 million flowed out of the stock on the tick-down, for a money net flow of $52.26 million out of the stock. Of all stocks tracked, Netflix had the 0th highest net out-flow for the day. Netflix traded up $14.91 for the day and closed at $399.39Specifically, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $405.07, for a total value of $405,070.00. Following the completion of the sale, the chief financial officer now directly owns 1,000 shares in the company, valued at $405,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory K. Peters sold 7,133 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $350.00, for a total value of $2,496,550.00. Following the completion of the sale, the insider now owns 20,223 shares of the company’s stock, valued at $7,078,050. The disclosure for this sale can be found here. Insiders sold 288,982 shares of company stock valued at $102,840,168 over the last 90 days. 4.29% of the stock is currently owned by insiders.

A number of brokerages have recently commented on NFLX. Cowen reiterated a “buy” rating and set a $325.00 price objective (up previously from $275.00) on shares of Netflix in a research report on Wednesday, April 11th. Goldman Sachs Group increased their price objective on Netflix to $490.00 and gave the company a “positive” rating in a research report on Wednesday, June 20th. Pivotal Research increased their price objective on Netflix from $420.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, June 21st. Imperial Capital began coverage on Netflix in a research report on Tuesday. They set an “outperform” rating and a $503.00 price objective for the company. Finally, Bank of America increased their price objective on Netflix from $352.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company. Netflix currently has an average rating of “Buy” and a consensus price target of $310.57.

The firm has a market capitalization of $167.13 billion, a PE ratio of 312.31, a price-to-earnings-growth ratio of 4.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.30 and a current ratio of 1.30.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Netflix had a net margin of 5.26% and a return on equity of 19.11%. Netflix’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. equities analysts expect that Netflix, Inc. will post 2.89 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in Netflix during the first quarter valued at about $1,512,000. PagnatoKarp Partners LLC bought a new stake in Netflix during the first quarter valued at about $399,000. 180 Wealth Advisors LLC boosted its holdings in Netflix by 53.4% during the first quarter. 180 Wealth Advisors LLC now owns 3,178 shares of the Internet television network’s stock valued at $936,000 after acquiring an additional 1,106 shares during the period. Suntrust Banks Inc. boosted its holdings in Netflix by 52.0% during the first quarter. Suntrust Banks Inc. now owns 45,045 shares of the Internet television network’s stock valued at $13,303,000 after acquiring an additional 15,417 shares during the period. Finally, BKD Wealth Advisors LLC bought a new stake in Netflix during the first quarter valued at about $207,000. Institutional investors own 77.20% of the company’s stock.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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