Netflix, Inc. (NASDAQ:NFLX) CFO Spencer Adam Neumann Sells 2,601 Shares of Stock

Netflix, Inc. (NASDAQ:NFLX) CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Spencer Adam Neumann also recently made the following trade(s):

• On Monday, June 2nd, Spencer Adam Neumann sold 2,601 shares of Netflix stock. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67.
• On Tuesday, May 6th, Spencer Adam Neumann sold 686 shares of Netflix stock. The shares were sold at an average price of $1,141.28, for a total transaction of $782,918.08.
• On Thursday, May 1st, Spencer Adam Neumann sold 2,601 shares of Netflix stock. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38.

Netflix Trading Down 0.7%

Shares of Netflix stock opened at $1,284.86 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market capitalization of $546.80 billion, a price-to-earnings ratio of 60.72, a PEG ratio of 2.50 and a beta of 1.59. The firm’s 50-day moving average price is $1,200.03 and its two-hundred day moving average price is $1,031.42.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the prior year, the firm posted $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Moffett Nathanson reaffirmed a “buy” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,182.58.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter worth about $32,000. Copia Wealth Management acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $37,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Netflix during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

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.