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Selling Buzz: Netflix Inc. [NFLX] Executive Chairman HASTINGS REED sells 22,526 shares of the company

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 $15,103,432 were sold by HASTINGS REED on Jul 01 ’24. At $670.49 per share, HASTINGS REED sold 22,526 shares. The insider’s holdings dropped to 57 shares worth approximately $38904.78 following the completion of this transaction.

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Also, Peters Gregory K sold 4,783 shares, netting a total of over 3,228,525 in proceeds. Following the sale of shares at $675.00 each, the insider now holds 13,090 shares.

Before that, HASTINGS REED had sold 19,943 shares from its account. In a trade valued at $12,635,514, the Executive Chairman traded Netflix Inc. shares for $633.58 each. Upon closing the transaction, the insider’s holdings decreased to 19,943 shares, worth approximately $38904.78.

As published in a research note from Argus on July 02, 2024, Netflix Inc. [NFLX] has been retained to a Buy and the price target has been revised to $767. Analysts at Evercore ISI resumed the stock at ‘”an Outperform”‘ outlook in a report released in late May. As of April 19, 2024, Needham has increased its “Hold” rating to a “Buy” for NFLX. Earlier on April 19, 2024, Pivotal Research Group resumed its rating. Their recommendation was “a Buy” for NFLX stock.

Analyzing NFLX Stock Performance

During the last five days, there has been a surge of approximately 0.72%. Over the course of the year, Netflix Inc. shares have jumped approximately 40.19%. Shares of the company reached a 52-week high of $689.88 on 06/20/24 and a 52-week low of $461.86 on 01/02/24. A 50-day SMA is recorded $631.91, while a 200-day SMA reached $535.57. Nevertheless, trading volume fell to 1.4 million shares from 2.41 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 677.42, which, if violated, would cause prices to drop to 672.34. In the upper region, resistance lies at 685.67. The next price resistance is at 688.84. RSI (Relative Strength Index) is 62.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.61, which suggests the price will increase in the coming days. Percent R is at 15.51%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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