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 $31,982,073 were sold by HASTINGS REED on Oct 01 ’24. At $706.16 per share, HASTINGS REED sold 45,290 shares. The insider’s holdings dropped to 85 shares worth approximately $60442.65 following the completion of this transaction.
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Also, HASTINGS REED purchased 45,290 shares, netting a total of over 31,982,073 in proceeds.
Before that, Peters Gregory K had sold 4,392 shares from its account. In a trade valued at $3,184,200, the Co-CEO traded Netflix Inc. shares for $725.00 each. Upon closing the transaction, the insider’s holdings decreased to 4,392 shares, worth approximately $9.31 million.
As published in a research note from KeyBanc Capital Markets on October 01, 2024, Netflix Inc. [NFLX] has been retained to an Overweight and the price target has been revised to $760. Analysts at China Renaissance started covering the stock with ‘”a Hold”‘ outlook in a report released in early September. As of August 30, 2024, Pivotal Research Group has reiterated its “Buy” rating for NFLX. Earlier on July 17, 2024, Guggenheim resumed its rating. Their recommendation was “a Buy” for NFLX stock.
Analyzing NFLX Stock Performance
During the last five days, there has been a drop of approximately -1.45%. Over the course of the year, Netflix Inc. shares have jumped approximately 46.05%. Shares of the company reached a 52-week high of $725.26 on 09/26/24 and a 52-week low of $461.86 on 01/02/24. A 50-day SMA is recorded $672.32, while a 200-day SMA reached $614.20. Nevertheless, trading volume fell to 1.76 million shares from 2.81 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 705.12, which, if violated, would cause prices to drop to 699.14. In the upper region, resistance lies at 716.64. The next price resistance is at 722.18. RSI (Relative Strength Index) is 58.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.35, which suggests the price will increase in the coming days. Percent R is at 31.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
