Netflix shares are down after Reed Hastings sold over 375,000 shares of NFLX stock on Dec. 1. The sale was part of a prearranged trading plan, and Hastings still controls over 21 million shares through the Hastings-Quillin Family Trust. While technical indicators suggest a bearish trend for Netflix, Wall Street remains bullish on the stock, with a consensus rating of “Moderate Buy” and a mean target price of $136, indicating potential upside of over 30% from current levels. Options pricing suggests NFLX could drop to $91 by late February. Netflix is currently trading at a forward P/E ratio of about 43x.

Read more at Barchart: Netflix Stock Breaks Below 20-Day Moving Average Amid Selloff. Should You Buy the Dip?