LOS GATOS, Calif.—Leslie J. Kilgore, a director at Netflix Inc. (NASDAQ:NFLX), recently executed a series of stock transactions, according to an SEC filing. On November 6, Kilgore sold 353 shares of Netflix common stock at an average price of $775 per share, totaling approximately $273,575.
In addition to the sale, Kilgore also acquired 353 shares through the exercise of non-qualified stock options at a price of $177.01 per share. These transactions were part of a pre-established Rule 10b5-1 trading plan adopted earlier this year on January 29.
Following these transactions, Kilgore now holds 35,262 shares of Netflix common stock directly.
In other recent news, Netflix has found itself the subject of a tax probe with its Paris and Amsterdam offices raided by European authorities. The preliminary investigation, spearheaded by France's financial crime unit, the PNF, is centered around allegations of tax fraud laundering. Simultaneously, Netflix announced the departure of two executives, Dean Garfield and Rachel Whetstone, amid the search for a new chief global affairs officer.
On the financial front, Guggenheim has maintained a positive stance on Netflix, raising its price target to $825 from the previous $810. The revised target is based on robust revenue per member growth and steady membership projections. Guggenheim also anticipates a 9% increase in costs for 2025, factoring in investments in content, marketing, and technology as Netflix expands into advertising and gaming.
Furthermore, Jefferies has increased its price target for Netflix to $800, maintaining a Buy rating. The firm anticipates that Netflix will gain over 10 million subscribers in the fourth quarter, driven by a strong content lineup.
In telecom news, Verizon Communications (NYSE:VZ) reported an increase in wireless subscribers for the third quarter, surpassing analyst expectations. This growth is attributed to the company's flexible 5G plans and bundled streaming service offers. However, the company's total revenue for the quarter slightly missed the analysts' expectations due to a decline in wireless equipment revenue.
These developments indicate a dynamic period for both Netflix and Verizon, with strategic changes and regulatory scrutiny shaping their near-term outlooks.
InvestingPro Insights
As Leslie J. Kilgore adjusts her position in Netflix, the company continues to demonstrate strong performance in the entertainment industry. According to InvestingPro data, Netflix boasts a substantial market capitalization of $340.42 billion, reflecting its dominant position in the streaming market.
The company's financial health appears robust, with revenue for the last twelve months reaching $37.59 billion, marking a 14.8% growth. This growth trajectory aligns with an InvestingPro Tip indicating that Netflix is a "Prominent player in the Entertainment industry."
Netflix's stock has shown remarkable momentum, with a 1-year price total return of 83.28% as of the latest data. This performance is consistent with another InvestingPro Tip highlighting the company's "High return over the last year." The stock is currently trading near its 52-week high, with a price that is 99.79% of its peak, suggesting strong investor confidence.
While the company trades at a relatively high P/E ratio of 44.18, an InvestingPro Tip notes that Netflix is "Trading at a low P/E ratio relative to near-term earnings growth." This could indicate potential for further stock appreciation if the company meets or exceeds growth expectations.
For investors seeking more comprehensive analysis, InvestingPro offers 19 additional tips on Netflix, providing a deeper understanding of the company's financial position and market outlook.
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