Traders Buy Shares of Netflix, Inc. (NFLX) on Weakness Following Insider Selling

Investors bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading hours on Wednesday after an insider sold shares in the company. $216.01 million flowed into the stock on the tick-up and $189.74 million flowed out of the stock on the tick-down, for a money net flow of $26.27 million into the stock. Of all companies tracked, Netflix had the 23rd highest net in-flow for the day. Netflix traded down ($3.59) for the day and closed at $192.12Specifically, insider Jonathan Friedland sold 3,622 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $194.89, for a total value of $705,891.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $197.38, for a total transaction of $138,166.00. Following the completion of the transaction, the director now owns 7,362 shares in the company, valued at $1,453,111.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 343,372 shares of company stock worth $63,446,547. 4.90% of the stock is owned by company insiders.

A number of research analysts have commented on NFLX shares. Sanford C. Bernstein set a $203.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Wednesday, August 30th. Citigroup Inc. increased their price target on shares of Netflix from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Vetr cut shares of Netflix from a “sell” rating to a “strong sell” rating and set a $162.49 price target on the stock. in a research report on Monday, September 18th. Robert W. Baird reiterated a “hold” rating and set a $175.00 price target on shares of Netflix in a research report on Friday, September 1st. Finally, Wedbush set a $88.00 price target on shares of Netflix and gave the company a “sell” rating in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $207.20.

The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $84,100.00, a P/E ratio of 197.05, a PEG ratio of 5.73 and a beta of 1.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue was up 30.3% compared to the same quarter last year. analysts forecast that Netflix, Inc. will post 1.28 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Netflix by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after purchasing an additional 789,190 shares during the last quarter. BlackRock Inc. increased its position in shares of Netflix by 1.7% during the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after purchasing an additional 423,968 shares during the last quarter. FMR LLC increased its position in shares of Netflix by 12.4% during the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after purchasing an additional 2,605,731 shares during the last quarter. Jennison Associates LLC increased its position in shares of Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after purchasing an additional 1,814,056 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Netflix by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,638,317 shares of the Internet television network’s stock valued at $659,809,000 after purchasing an additional 172,229 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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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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