The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Netflix Inc. shares valued at $1,756,820 were sold by Sweeney Anne M on May 03 ’24. At $580.00 per share, Sweeney Anne M sold 3,029 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Peters Gregory K sold 1,278 shares, netting a total of over 758,889 in proceeds. Following the sale of shares at $593.81 each, the insider now holds 13,090 shares.
Before that, HYMAN DAVID A had sold 268 shares from its account. In a trade valued at $159,090, the Chief Legal Officer traded Netflix Inc. shares for $593.62 each. Upon closing the transaction, the insider’s holdings decreased to 268 shares, worth approximately $19.27 million.
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 surge of approximately 10.47%. Over the course of the year, Netflix Inc. shares have jumped approximately 25.18%. 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 $602.89, while a 200-day SMA reached $492.94. Nevertheless, trading volume fell to 3.09 million shares from 3.61 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 601.33, which, if violated, would cause prices to drop to 593.18. In the upper region, resistance lies at 617.92. The next price resistance is at 626.36. RSI (Relative Strength Index) is 57.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 33.62, which suggests the price will increase in the coming days. Percent R is at 11.48%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
