Netflix, Inc. (NFLX)’s General Counsel And Director Unload Shares

Netflix, Inc. (NFLX)’s General Counsel And Director Unload Shares

Netflix, Inc. (NASDAQ:NFLX) General Counsel David A. Hyman has unloaded 3,099 shares on the open market in a transaction on Friday, May 23rd. The stock was sold at a total value of $1,239,600.00 at an average price of $400. After the transaction, Hyman still directly owns 5,230 shares in the company valued at approximately $2,092,000, according to a filing with SEC.

Other major sell-offs

Another top executive of Netflix, Inc. (NASDAQ:NFLX), Director Richard N Barton, also sold off 5,000 shares in a transaction on Friday, May 23rd. The shares were sold at an average price of $400.00 for a total value of $2,000,000.00. After the transaction, Barton directly owns 6,343 shares in the company, valued at approximately $2,537,200.

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According to the most recent 13F filing, billionaire investor Carl Icahn also sold around 421,000 Netflix, Inc. (NASDAQ:NFLX) shares in the first quarter. However, Icahn still holds 2.2 million shares of the streaming company, reflecting his bullishness on the stock.

Netflix assigned a Hold rating

Netflix, Inc. (NASDAQ:NFLX) stock got ratings from various analyst firms recently. Zacks analysts have downgraded the firm from Outperform to Neutral in a research note to the investors on Thursday, May 22nd and also assigned it a price target of $410. Topeka Capital Markets analysts have initiated coverage on Netflix, Inc. (NASDAQ:NFLX) in a research note on Tuesday, May 20th, assigning a Buy rating to the stock with a price target of $421. Separately, analysts at Cantor Fitzgerald have assigned a Hold rating to the stock with a price target of $405.

Four investment analysts have rated the stock with a Sell rating; twenty-one have assigned a Hold rating, while sixteen have given a Buy rating to the stock. Overall, Netflix has a consensus rating of Hold and an average target price of $380.31.

In the first quarter of 2014, Netflix, Inc. (NASDAQ:NFLX) posted earnings per share of $0.86, above the consensus estimates of $0.83, and also outpaced the previous year’s same quarter earnings of $0.31 per share. Revenue for the company came in at $1.27 billion, an increase of 24% on year over year basis. Analysts expect Netflix to post $4.15 EPS for the current fiscal year.

In early morning trading today, Netflix shares were down 0.15% to $400.43.

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