Shares of Netflix Inc. (NASDAQ:NFLX) fell 1.2% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $102.76 and last traded at $103.59, with a volume of 5,328,824 shares trading hands. The stock had previously closed at $104.82.

Specifically, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were bought at an average cost of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total transaction of $65,709.00. Following the sale, the director now directly owns 15,562 shares in the company, valued at $1,460,804.94. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Several brokerages recently commented on NFLX. Needham & Company LLC downgraded shares of Netflix from a “buy” rating to a “hold” rating and increased their price objective for the company from $95.15 to $96.67 in a research report on Tuesday, July 5th. Bank of America Corp. reaffirmed a “buy” rating and set a $146.00 price target on shares of Netflix in a report on Friday, August 26th. Wedbush raised their price target on shares of Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, July 19th. Vetr downgraded shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 price target on the stock. in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $122.00 price target on shares of Netflix in a report on Wednesday, September 7th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Netflix has an average rating of “Hold” and a consensus target price of $110.52.

The stock has a 50 day moving average price of $98.20 and a 200 day moving average price of $96.33. The company has a market capitalization of $44.35 billion, a price-to-earnings ratio of 323.25 and a beta of 1.14.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts anticipate that Netflix Inc. will post $0.28 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. increased its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC increased its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.

Netflix Company Profile

Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.

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