Investors Sell Shares of Netflix (NFLX) on Strength Following Insider Selling

Investors sold shares of Netflix, Inc. (NASDAQ:NFLX) on strength during trading hours on Tuesday following insider selling activity. $229.71 million flowed into the stock on the tick-up and $350.48 million flowed out of the stock on the tick-down, for a money net flow of $120.77 million out of the stock. Of all equities tracked, Netflix had the 2nd highest net out-flow for the day. Netflix traded up $0.17 for the day and closed at $184.21Specifically, insider Jonathan Friedland sold 3,617 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $203.35, for a total value of $735,516.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $189.39, for a total value of $189,390.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares in the company, valued at $189,390. The disclosure for this sale can be found here. Over the last three months, insiders sold 325,935 shares of company stock valued at $62,914,692. Insiders own 4.90% of the company’s stock.

NFLX has been the topic of several analyst reports. Piper Jaffray Companies reiterated a “buy” rating and set a $215.00 target price on shares of Netflix in a report on Monday, September 18th. Loop Capital boosted their price target on Netflix from $228.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Netflix in a research report on Friday, October 6th. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.75 price target on the stock in a research report on Thursday, August 10th. Finally, KeyCorp reissued a “buy” rating and set a $190.00 price target on shares of Netflix in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $208.19.

The stock has a market capitalization of $80,270.00, a P/E ratio of 188.71, a P/E/G ratio of 5.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 earnings per share. analysts anticipate that Netflix, Inc. will post 1.26 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of Netflix in the 2nd quarter valued at about $155,000. NGAM Advisors L.P. acquired a new stake in shares of Netflix in the 2nd quarter valued at about $1,864,000. Harbour Capital Advisors LLC grew its stake in shares of Netflix by 14,840.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,917 shares of the Internet television network’s stock valued at $140,000 after buying an additional 20,777 shares during the period. Bessemer Group Inc. grew its stake in shares of Netflix by 119.6% in the 2nd quarter. Bessemer Group Inc. now owns 4,987 shares of the Internet television network’s stock valued at $745,000 after buying an additional 2,716 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Netflix by 6.1% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 33,655 shares of the Internet television network’s stock valued at $5,029,000 after buying an additional 1,928 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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About Netflix

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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