Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $15543.36 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 $15543.36.
As published in a research note from Needham on April 19, 2024, Netflix Inc. [NFLX] has been rated up from a Hold to a Buy and the price target has been revised to $700. Analysts at Pivotal Research Group resumed the stock at ‘”a Buy”‘ outlook in a report released in mid April. As of April 19, 2024, Canaccord Genuity has decreased its “Buy” rating to a “Hold” for NFLX. Earlier on April 15, 2024, Deutsche Bank resumed its rating. Their recommendation was “a Hold” for NFLX stock.
Analyzing NFLX Stock Performance
During the last five days, there has been a drop of approximately -9.54%. Over the course of the year, Netflix Inc. shares have jumped approximately 14.02%. 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 $604.42, while a 200-day SMA reached $486.58. Nevertheless, trading volume fell to 5.31 million shares from 4.98 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 545.31, which, if violated, would cause prices to drop to 535.50. In the upper region, resistance lies at 570.92. The next price resistance is at 586.72. RSI (Relative Strength Index) is 35.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -40.68, which suggests the price will decrease in the coming days. Percent R is at 86.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
