Netflix (NASDAQ:NFLX) Trading 2.1% Higher – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) was up 2.1% during trading on Wednesday . The company traded as high as $999.76 and last traded at $997.63. Approximately 1,162,951 shares traded hands during trading, a decline of 71% from the average daily volume of 4,079,876 shares. The stock had previously closed at $977.24.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent research reports. Argus boosted their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Finally, Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Performance

The company has a market cap of $422.76 billion, a price-to-earnings ratio of 49.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The firm has a 50-day simple moving average of $943.06 and a 200 day simple moving average of $826.31. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business posted $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,220 shares of company stock valued at $289,856,164 in the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently bought and sold shares of the business. AMF Tjanstepension AB lifted its position in Netflix by 7.4% during the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after buying an additional 4,701 shares in the last quarter. Swedbank AB increased its holdings in shares of Netflix by 1.8% in the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Netflix by 17.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 634 shares of the Internet television network’s stock worth $450,000 after buying an additional 92 shares during the period. Modera Wealth Management LLC boosted its stake in Netflix by 5.5% in the 3rd quarter. Modera Wealth Management LLC now owns 1,758 shares of the Internet television network’s stock worth $1,247,000 after purchasing an additional 92 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in Netflix by 43.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,457 shares of the Internet television network’s stock worth $1,033,000 after buying an additional 442 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.