Traders Buy Netflix (NFLX) on Weakness After Insider Selling
Traders bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Wednesday following insider selling activity. $485.26 million flowed into the stock on the tick-up and $441.72 million flowed out of the stock on the tick-down, for a money net flow of $43.54 million into the stock. Of all companies tracked, Netflix had the 8th highest net in-flow for the day. Netflix traded down ($4.03) for the day and closed at $217.50Specifically, Director Ann Mather sold 3,885 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $200.00, for a total value of $777,000.00. Following the completion of the transaction, the director now owns 1,015 shares of the company’s stock, valued at approximately $203,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 83,335 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $192.79, for a total value of $16,066,154.65. Following the completion of the transaction, the chief executive officer now directly owns 83,335 shares of the company’s stock, valued at approximately $16,066,154.65. The disclosure for this sale can be found here. In the last three months, insiders sold 341,551 shares of company stock valued at $66,457,350. Insiders own 4.90% of the company’s stock.
Several brokerages have recently issued reports on NFLX. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $230.38 price objective for the company in a report on Tuesday. UBS Group set a $250.00 price target on Netflix and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays initiated coverage on Netflix in a report on Thursday, January 11th. They issued an “overweight” rating and a $245.00 price target for the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $240.00 price target on shares of Netflix in a report on Monday, January 8th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $250.00 price target (up previously from $230.00) on shares of Netflix in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirty-six have given a buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and a consensus price target of $212.11.
The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $94,120.00, a P/E ratio of 219.70, a price-to-earnings-growth ratio of 3.59 and a beta of 1.34.
A number of institutional investors have recently bought and sold shares of the business. CAPROCK Group Inc. acquired a new stake in Netflix in the fourth quarter valued at $228,000. Schwab Charles Investment Management Inc. raised its stake in Netflix by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,465,711 shares of the Internet television network’s stock valued at $281,358,000 after buying an additional 57,587 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Netflix by 7.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,684 shares of the Internet television network’s stock valued at $707,000 after buying an additional 269 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Netflix by 39.5% in the fourth quarter. DAVENPORT & Co LLC now owns 1,716 shares of the Internet television network’s stock valued at $329,000 after buying an additional 486 shares in the last quarter. Finally, First National Trust Co acquired a new stake in Netflix in the fourth quarter valued at $1,811,000. Institutional investors own 83.27% of the company’s stock.
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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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