Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Netflix Inc. shares valued at $12,553,955 were sold by HASTINGS REED on Apr 01 ’24. At $610.42 per share, HASTINGS REED sold 20,566 shares. The insider’s holdings dropped to 28 shares worth approximately $17320.24 following the completion of this transaction.
Also, Peters Gregory K sold 5,352 shares, netting a total of over 3,345,000 in proceeds. Following the sale of shares at $625.00 each, the insider now holds 13,090 shares.
Before that, HASTINGS REED had sold 18,494 shares from its account. In a trade valued at $11,303,912, the Executive Chairman traded Netflix Inc. shares for $611.22 each. Upon closing the transaction, the insider’s holdings decreased to 18,494 shares, worth approximately $17320.24.
As published in a research note from Pivotal Research Group on April 05, 2024, Netflix Inc. [NFLX] has been retained to a Buy and the price target has been revised to $765. Analysts at Citigroup resumed the stock at ‘”a Neutral”‘ outlook in a report released in late March. As of March 12, 2024, Jefferies has reiterated its “Buy” rating for NFLX. Earlier on March 11, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for NFLX stock.
Analyzing NFLX Stock Performance
During the last five days, there has been a drop of approximately -1.83%. Over the course of the year, Netflix Inc. shares have jumped approximately 27.05%. Shares of the company reached a 52-week high of $639.00 on 04/08/24 and a 52-week low of $461.86 on 01/02/24. A 50-day SMA is recorded $597.84, while a 200-day SMA reached $478.55. Nevertheless, trading volume fell to 2.6 million shares from 2.15 million shares the previous day.
Support And Resistance Levels for Netflix Inc. (NFLX)
According to the 24-hour chart, there is a support level at 611.90, which, if violated, would cause prices to drop to 605.22. In the upper region, resistance lies at 622.70. The next price resistance is at 626.82. RSI (Relative Strength Index) is 53.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 54.58%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Netflix Inc. subject to short interest?
Stocks of Netflix Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.14 million shares to 7.94 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.08 million shares. A decline of -1.76% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.36 of the overall float, the days-to-cover ratio (short ratio) decline to 2.36.
