Investors Buy Shares of Netflix, Inc. (NFLX) on Weakness After Insider Selling

Investors bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading hours on Wednesday following insider selling activity. $303.40 million flowed into the stock on the tick-up and $181.47 million flowed out of the stock on the tick-down, for a money net flow of $121.93 million into the stock. Of all stocks tracked, Netflix had the 5th highest net in-flow for the day. Netflix traded down ($0.17) for the day and closed at $185.51Specifically, insider Jonathan Friedland sold 2,496 shares of Netflix stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $182.17, for a total value of $454,696.32. Following the sale, the insider now owns 1,232 shares of the company’s stock, valued at approximately $224,433.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the sale, the director now directly owns 8,012 shares in the company, valued at approximately $1,254,839.44. The disclosure for this sale can be found here. Insiders sold a total of 235,858 shares of company stock worth $41,949,573 in the last ninety days. 4.90% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $180.00 price objective (up previously from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research report on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and set a $199.00 price target (up from $184.00) on shares of Netflix in a research report on Tuesday, July 18th. Vetr upgraded shares of Netflix from a “sell” rating to a “hold” rating and set a $165.09 price target for the company in a research report on Wednesday, August 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Netflix in a research report on Wednesday. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $178.10.

The stock has a market capitalization of $80.09 billion, a PE ratio of 225.68 and a beta of 1.05. The company has a 50-day moving average of $175.28 and a 200-day moving average of $160.06.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post $1.17 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in NFLX. Almanack Investment Partners LLC. bought a new position in Netflix during the 2nd quarter valued at about $101,000. TD Capital Management LLC bought a new position in Netflix during the 2nd quarter valued at about $105,000. SRS Capital Advisors Inc. lifted its holdings in Netflix by 3,361.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after purchasing an additional 706 shares during the last quarter. Harfst & Associates Inc. bought a new position in Netflix during the 1st quarter valued at about $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Netflix by 24.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after purchasing an additional 150 shares during the last quarter. 81.03% of the stock is owned by hedge funds and other institutional investors.

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About Netflix

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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