Insider Selling: Netflix, Inc. (NASDAQ:NFLX) Director Sells 11,090 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Netflix Trading Up 2.1 %

NFLX traded up $16.30 during trading on Wednesday, hitting $780.21. The company’s stock had a trading volume of 3,687,755 shares, compared to its average volume of 3,890,906. Netflix, Inc. has a twelve month low of $431.00 and a twelve month high of $781.49. The stock has a market cap of $333.51 billion, a PE ratio of 44.15, a PEG ratio of 1.46 and a beta of 1.25. The firm’s 50 day moving average price is $717.59 and its 200-day moving average price is $667.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. M&G Plc acquired a new stake in shares of Netflix during the 1st quarter valued at approximately $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares during the last quarter. Forsta AP Fonden lifted its stake in Netflix by 7.7% during the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in Netflix in the first quarter worth $1,304,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. China Renaissance started coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Wedbush raised their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $748.15.

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.