Reed Hastings Sells 407,550 Shares of Netflix (NASDAQ:NFLX) Stock

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 407,550 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares of the company’s stock, valued at $366,932.20. This trade represents a 99.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Reed Hastings sold 420,550 shares of Netflix stock. The shares were sold at an average price of $95.49, for a total value of $40,158,319.50.
• On Monday, March 2nd, Reed Hastings sold 410,550 shares of Netflix stock. The shares were sold at an average price of $97.01, for a total value of $39,827,455.50.

Netflix Price Performance

Shares of Netflix stock traded down $1.01 on Monday, reaching $91.05. The company’s stock had a trading volume of 25,510,960 shares, compared to its average volume of 47,226,531. The company has a market capitalization of $383.38 billion, a P/E ratio of 29.41, a PEG ratio of 1.18 and a beta of 1.55. Netflix, Inc. has a 52-week low of $75.01 and a 52-week high of $134.12. The stock has a 50-day moving average price of $94.81 and a 200-day moving average price of $96.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.47. The business had revenue of $12.25 billion during the quarter, compared to analysts’ expectations of $12.17 billion. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The business’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.61 earnings per share. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Analysts expect that Netflix, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of Netflix in a research report on Friday, April 17th. Weiss Ratings cut Netflix from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 22nd. Barclays set a $110.00 price target on Netflix and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Rosenblatt Securities dropped their price target on Netflix from $96.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Finally, Citic Securities boosted their price target on Netflix from $95.00 to $107.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $114.82.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Financial Corp IN boosted its stake in Netflix by 900.0% during the fourth quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock worth $25,000 after buying an additional 243 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its stake in Netflix by 885.2% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after buying an additional 239 shares during the last quarter. Turning Point Benefit Group Inc. boosted its stake in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after buying an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new position in Netflix during the third quarter worth $25,000. Finally, Cornerstone Financial Management LLC acquired a new position in Netflix during the fourth quarter worth $26,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.