Netflix (NASDAQ:NFLX) Director Reed Hastings Sells 40,374 Shares

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 40,374 shares of Netflix stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $1,121.51, for a total value of $45,279,844.74. Following the completion of the transaction, the director owned 394 shares in the company, valued at $441,874.94. This trade represents a 99.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Reed Hastings also recently made the following trade(s):

• On Wednesday, October 1st, Reed Hastings sold 42,176 shares of Netflix stock. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92.
• On Tuesday, September 2nd, Reed Hastings sold 25,959 shares of Netflix stock. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89.

Netflix Stock Performance

NASDAQ NFLX traded down $7.13 during trading hours on Tuesday, hitting $1,092.96. 3,860,316 shares of the stock were exchanged, compared to its average volume of 4,014,092. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The company has a market cap of $463.12 billion, a price-to-earnings ratio of 45.65, a price-to-earnings-growth ratio of 1.91 and a beta of 1.59. Netflix, Inc. has a 12-month low of $756.27 and a 12-month high of $1,341.15. The stock has a 50-day moving average of $1,190.62 and a 200 day moving average of $1,198.22.

Netflix’s stock is going to split on Monday, November 17th. The 10-1 split was announced on Thursday, October 30th. The newly created shares will be distributed to shareholders after the closing bell on Friday, November 14th.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). Netflix had a net margin of 24.05% and a return on equity of 41.86%. The company had revenue of $11.51 billion during the quarter, compared to analysts’ expectations of $11.52 billion. During the same quarter in the prior year, the business earned $5.40 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NFLX shares. Loop Capital reduced their target price on Netflix from $1,350.00 to $1,325.00 in a research report on Wednesday, October 22nd. UBS Group set a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, October 22nd. Phillip Securities cut shares of Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 21st. Wells Fargo & Company lowered their target price on shares of Netflix from $1,560.00 to $1,510.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Netflix in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,340.22.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Optima Capital LLC raised its stake in shares of Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock valued at $320,000 after purchasing an additional 8 shares in the last quarter. Unified Investment Management increased its holdings in Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after buying an additional 8 shares during the last quarter. Plancorp LLC raised its stake in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,711,000 after buying an additional 8 shares in the last quarter. Five Oceans Advisors lifted its holdings in Netflix by 1.1% during the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after buying an additional 8 shares during the last quarter. Finally, Old Port Advisors lifted its holdings in Netflix by 1.3% during the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after buying an additional 8 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.