Netflix (NASDAQ:NFLX) Shares Up 0.6% – Time to Buy?

Netflix, Inc. (NASDAQ:NFLX) shares were up 0.6% during trading on Tuesday . The company traded as high as $852.47 and last traded at $851.85. Approximately 765,115 shares changed hands during trading, a decline of 79% from the average daily volume of 3,648,332 shares. The stock had previously closed at $847.05.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFLX. Oppenheimer raised their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group lifted their target price on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $753.45.

Netflix Stock Up 3.0 %

The firm has a market capitalization of $373.07 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company’s fifty day simple moving average is $739.20 and its 200 day simple moving average is $683.35. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,277 shares of company stock worth $132,875,601. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter worth $25,000. Denver PWM LLC purchased a new stake in shares of Netflix during the second quarter valued at $25,000. Proffitt & Goodson Inc. raised its position in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.