Traders Sell Netflix (NFLX) on Strength After Insider Selling
Traders sold shares of Netflix, Inc. (NASDAQ:NFLX) on strength during trading on Thursday following insider selling activity. $780.16 million flowed into the stock on the tick-up and $866.34 million flowed out of the stock on the tick-down, for a money net flow of $86.18 million out of the stock. Of all stocks tracked, Netflix had the 0th highest net out-flow for the day. Netflix traded up $2.83 for the day and closed at $380.71Specifically, CEO Reed Hastings sold 99,883 shares of Netflix stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $368.25, for a total transaction of $36,781,914.75. Following the transaction, the chief executive officer now directly owns 99,883 shares of the company’s stock, valued at $36,781,914.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David B. Wells sold 1,000 shares of Netflix stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $385.05, for a total value of $385,050.00. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $385,050. The disclosure for this sale can be found here. Insiders have sold 420,778 shares of company stock worth $149,888,468 over the last three months. Corporate insiders own 4.29% of the company’s stock.
A number of research analysts recently issued reports on the company. UBS Group lowered Netflix from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $425.00 to $237.00 in a report on Wednesday, July 11th. Credit Suisse Group reaffirmed a “neutral” rating and set a $330.00 target price on shares of Netflix in a report on Thursday, June 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $385.00 target price on shares of Netflix in a report on Wednesday, July 11th. Pivotal Research lifted their target price on Netflix from $420.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Nomura started coverage on Netflix in a report on Tuesday, July 10th. They set a “neutral” rating and a $370.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-two have issued a buy rating to the stock. Netflix currently has an average rating of “Buy” and an average target price of $355.69.
The firm has a market cap of $160.87 billion, a PE ratio of 301.35, a PEG ratio of 4.61 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.86.
Hedge funds have recently modified their holdings of the stock. Private Capital Group LLC raised its stake in shares of Netflix by 33.1% in the 2nd quarter. Private Capital Group LLC now owns 744 shares of the Internet television network’s stock valued at $291,000 after acquiring an additional 185 shares in the last quarter. Braun Bostich & Associates Inc. bought a new position in shares of Netflix in the 1st quarter valued at approximately $142,000. Morgan Stanley raised its stake in shares of Netflix by 1.6% in the 2nd quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock valued at $925,600,000 after acquiring an additional 37,425 shares in the last quarter. Mackay Shields LLC raised its stake in shares of Netflix by 3.0% in the 2nd quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock valued at $66,284,000 after acquiring an additional 4,917 shares in the last quarter. Finally, Iron Financial LLC bought a new position in shares of Netflix in the 2nd quarter valued at approximately $579,000. 73.72% of the stock is currently owned by institutional investors and hedge funds.
About Netflix (NASDAQ:NFLX)
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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