Netflix (NASDAQ:NFLX) Director Reed Hastings Sells 386,700 Shares

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 386,700 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the transaction, the director owned 3,940 shares in the company, valued at $338,721.80. The trade was a 98.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Reed Hastings sold 407,550 shares of Netflix stock. The stock was sold at an average price of $93.13, for a total transaction of $37,955,131.50.
• On Wednesday, April 1st, Reed Hastings sold 420,550 shares of Netflix stock. The stock was sold at an average price of $95.49, for a total transaction of $40,158,319.50.

Netflix Price Performance

Shares of NFLX stock traded down $2.49 during trading hours on Tuesday, reaching $83.36. 32,656,061 shares of the company were exchanged, compared to its average volume of 31,739,898. Netflix, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $134.12. The stock’s fifty day moving average is $93.00 and its two-hundred day moving average is $93.09. The company has a market cap of $351.00 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 1.09 and a beta of 1.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The company had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.17 billion. During the same period in the prior year, the business earned $6.61 earnings per share. Netflix’s quarterly revenue was up 16.2% on a year-over-year basis. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Sell-side analysts forecast that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Imprint Wealth LLC bought a new stake in shares of Netflix during the third quarter worth $25,000. Bare Financial Services Inc increased its position in shares of Netflix by 93.3% during the third quarter. Bare Financial Services Inc now owns 29 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 14 shares in the last quarter. Horizon Financial Services LLC increased its position in shares of Netflix by 480.0% during the third quarter. Horizon Financial Services LLC now owns 29 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 24 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Netflix during the third quarter worth $36,000. Finally, Promus Capital LLC bought a new stake in shares of Netflix during the third quarter worth $48,000. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Netflix from $98.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, April 14th. Wells Fargo & Company assumed coverage on shares of Netflix in a research report on Monday, March 9th. They set an “equal weight” rating and a $105.00 target price on the stock. Raymond James Financial reissued a “market perform” rating on shares of Netflix in a research note on Thursday, May 14th. Daiwa Securities Group boosted their price target on shares of Netflix from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Netflix in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $114.82.

Netflix Company Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.