Investors Buy Shares of Netflix, Inc. (NASDAQ:NFLX) on Weakness Following Insider Selling

Traders purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading hours on Wednesday following insider selling activity. $505.68 million flowed into the stock on the tick-up and $422.04 million flowed out of the stock on the tick-down, for a money net flow of $83.64 million into the stock. Of all stocks tracked, Netflix had the 4th highest net in-flow for the day. Netflix traded down ($2.58) for the day and closed at $175.78Specifically, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $181.37, for a total value of $181,370.00. Following the sale, the director now owns 8,012 shares in the company, valued at $1,453,136.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $157.81, for a total value of $315,620.00. Following the completion of the sale, the director now owns 8,012 shares in the company, valued at approximately $1,264,373.72. The disclosure for this sale can be found here. Insiders sold 389,801 shares of company stock worth $64,889,201 in the last 90 days. Company insiders own 4.90% of the company’s stock.

A number of brokerages have recently commented on NFLX. Raymond James Financial, Inc. restated an “outperform” rating and issued a $205.00 target price (up previously from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. Guggenheim upped their target price on Netflix from $160.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. William Blair restated an “outperform” rating and issued a $165.00 target price on shares of Netflix in a research note on Saturday, April 22nd. Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $158.60 target price on the stock in a research note on Monday, May 15th. Finally, Cantor Fitzgerald upped their target price on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-nine have given a buy rating to the company. Netflix currently has an average rating of “Buy” and a consensus price target of $175.13.

The stock’s 50-day moving average is $168.29 and its 200 day moving average is $153.50. The company has a market cap of $74.00 billion, a PE ratio of 208.52 and a beta of 1.02.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by $0.01. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities analysts expect that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NFLX. Advisor Group Inc. raised its stake in Netflix by 11.0% in the second quarter. Advisor Group Inc. now owns 46,874 shares of the Internet television network’s stock valued at $6,613,000 after buying an additional 4,636 shares during the period. Nordea Investment Management AB raised its stake in Netflix by 88.5% in the second quarter. Nordea Investment Management AB now owns 37,414 shares of the Internet television network’s stock valued at $5,590,000 after buying an additional 17,564 shares during the period. Cibc World Markets Corp raised its stake in Netflix by 106.8% in the second quarter. Cibc World Markets Corp now owns 92,969 shares of the Internet television network’s stock valued at $13,890,000 after buying an additional 48,023 shares during the period. Harfst & Associates Inc. raised its stake in Netflix by 36.8% in the second quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after buying an additional 273 shares during the period. Finally, Suntrust Banks Inc. raised its stake in Netflix by 18.1% in the second quarter. Suntrust Banks Inc. now owns 26,149 shares of the Internet television network’s stock valued at $3,905,000 after buying an additional 4,003 shares during the period. Hedge funds and other institutional investors own 82.78% of the company’s stock.

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Netflix Company Profile

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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