Leslie J. Kilgore, a director at Netflix Inc. (NASDAQ:NFLX), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On November 19 and 20, Kilgore sold a total of 940 shares of Netflix common stock, amounting to approximately $819,323. The shares were sold at prices ranging from $865.00 to $879.98 per share.
In addition to the sales, Kilgore also acquired shares through stock option exercises. On November 19 and 20, she acquired a total of 940 shares at prices between $198.00 and $201.07 per share, totaling $187,531. These transactions were made under a Rule 10b5-1 trading plan, which was adopted earlier in the year on January 29, 2024.
Following these transactions, Kilgore holds 35,262 shares of Netflix common stock.
In other recent news, Netflix has seen significant developments that have caught the attention of investors and analysts alike. Pivotal Research has increased Netflix's price target to $1,100, citing the success of live events like the Tyson/Paul fight, which was streamed by an estimated 65 million households. The firm anticipates that such events will bolster Netflix's subscriber growth and average revenue per user (ARPU).
Evercore ISI has reaffirmed their Outperform rating for Netflix, setting a price target of $775 based on the streaming giant's robust ad-supported user growth. The firm believes this growth will help Netflix achieve its goal of doubling advertising revenue by 2025. Guggenheim has also maintained a positive stance on Netflix, raising its price target and maintaining a Buy rating on the shares.
However, not all recent news has been positive. Netflix is currently under investigation by France's elite financial crime unit, PNF, over allegations of tax fraud. The company's Paris and Amsterdam offices have been raided as part of this ongoing probe. Amid these developments, Netflix announced the departure of executives Dean Garfield and Rachel Whetstone, as the search for a new chief global affairs officer begins.
Despite these challenges, the company continues to innovate and grow, with its focus on regular, compelling content and its strategic move towards 'eventized' live programming. These developments underscore Netflix's potential to sustain subscriber growth and increase ARPU over time.
InvestingPro Insights
As Leslie J. Kilgore adjusts her position in Netflix Inc. (NASDAQ:NFLX), recent data from InvestingPro sheds light on the company's current market standing. Netflix's market capitalization stands at an impressive $377.94 billion, reflecting its dominant position in the streaming industry. The company's stock has shown remarkable performance, with a year-to-date price total return of 81.53% as of the latest data, indicating strong investor confidence.
InvestingPro Tips highlight that 28 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for Netflix's financial performance. This aligns with the company's robust revenue growth, which stands at 14.8% for the last twelve months as of Q3 2024. Additionally, Netflix's operating income margin of 25.65% underscores its operational efficiency.
While the stock is trading near its 52-week high, with a price at 99.26% of its peak, InvestingPro Tips also note that Netflix is trading at a low P/E ratio relative to its near-term earnings growth. This is reflected in the company's PEG ratio of 0.63, potentially indicating an undervalued position despite the recent stock price surge.
For investors seeking a more comprehensive analysis, InvestingPro offers 21 additional tips on Netflix, providing a deeper dive into the company's financial health and market position.
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