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Investors Buy Netflix (NFLX) on Weakness Following Insider Selling

Netflix

Investors purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Friday following insider selling activity. $994.60 million flowed into the stock on the tick-up and $927.03 million flowed out of the stock on the tick-down, for a money net flow of $67.57 million into the stock. Of all stocks tracked, Netflix had the 5th highest net in-flow for the day. Netflix traded down ($2.20) for the day and closed at $356.87 Specifically, CFO David B. Wells sold 588 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $283.79, for a total value of $166,868.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 78,092 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $266.87, for a total transaction of $20,840,412.04. Following the completion of the sale, the chief executive officer now owns 78,092 shares of the company’s stock, valued at $20,840,412.04. The disclosure for this sale can be found here. Insiders sold a total of 220,252 shares of company stock valued at $62,279,115 over the last quarter. 4.29% of the stock is currently owned by company insiders.

NFLX has been the subject of several research reports. MKM Partners raised their price objective on shares of Netflix from $395.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Morgan Stanley raised their price objective on shares of Netflix from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 18th. Royal Bank of Canada restated an “outperform” rating and set a $480.00 price objective (up from $450.00) on shares of Netflix in a research report on Friday, January 18th. Credit Suisse Group restated a “buy” rating and set a $440.00 price objective on shares of Netflix in a research report on Friday, January 18th. Finally, BidaskClub upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Six analysts have rated the stock with a sell rating, eight have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $376.33.

The firm has a market capitalization of $153.58 billion, a P/E ratio of 133.16, a P/E/G ratio of 2.90 and a beta of 1.38. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.49 and a current ratio of 1.49.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, January 17th. The Internet television network reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Netflix had a net margin of 7.67% and a return on equity of 25.82%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post 4.05 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in NFLX. Oregon Public Employees Retirement Fund increased its stake in Netflix by 17,848.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock valued at $89,000 after acquiring an additional 23,798,143 shares during the last quarter. Capital International Investors bought a new position in Netflix in the third quarter valued at approximately $1,231,337,000. FMR LLC increased its stake in Netflix by 6.1% in the second quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after acquiring an additional 1,534,290 shares during the last quarter. Harris Associates L P increased its stake in Netflix by 90.8% in the fourth quarter. Harris Associates L P now owns 3,109,548 shares of the Internet television network’s stock valued at $832,301,000 after acquiring an additional 1,479,651 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Netflix by 109.2% in the third quarter. SG Americas Securities LLC now owns 89,706 shares of the Internet television network’s stock valued at $33,562,000 after acquiring an additional 1,063,944 shares during the last quarter. 79.49% of the stock is currently owned by institutional investors and hedge funds.

Fairfield Current
Mary Korn

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