Investors Buy Netflix, Inc. (NFLX) on Weakness After Insider Selling
Traders purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Friday after an insider sold shares in the company. $317.06 million flowed into the stock on the tick-up and $211.03 million flowed out of the stock on the tick-down, for a money net flow of $106.03 million into the stock. Of all companies tracked, Netflix had the 4th highest net in-flow for the day. Netflix traded down ($1.43) for the day and closed at $187.35Specifically, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $154.31, for a total transaction of $308,620.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,236,331.72. The disclosure for this sale can be found here. In the last three months, insiders sold 311,325 shares of company stock valued at $55,912,478. 4.90% of the stock is owned by insiders.
NFLX has been the subject of several analyst reports. MKM Partners reissued a “buy” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Netflix in a research note on Monday, May 29th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $178.00 price target on shares of Netflix in a research note on Wednesday, May 31st. Instinet reaffirmed a “buy” rating on shares of Netflix in a research note on Friday, June 2nd. Cantor Fitzgerald lifted their price target on shares of Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Finally, Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $168.81 price target for the company in a research note on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have issued a buy rating to the company. Netflix has an average rating of “Buy” and an average target price of $178.90.
The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 227.92 and a beta of 1.05. The firm’s 50 day moving average is $175.28 and its 200-day moving average is $160.06.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Equities analysts forecast that Netflix, Inc. will post $1.17 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Almanack Investment Partners LLC. purchased a new stake in shares of Netflix during the second quarter worth about $101,000. TD Capital Management LLC purchased a new stake in shares of Netflix during the second quarter worth about $105,000. Appropriate Balance Financial Services Inc. grew its holdings in shares of Netflix by 5.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after buying an additional 37 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares in the last quarter. Finally, Harfst & Associates Inc. purchased a new stake in shares of Netflix during the first quarter worth about $109,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
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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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