Netflix (NASDAQ:NFLX) Trading Up 1% – Still a Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 1% during trading on Tuesday . The stock traded as high as $921.38 and last traded at $920.98. 701,484 shares traded hands during trading, a decline of 80% from the average session volume of 3,595,220 shares. The stock had previously closed at $911.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NFLX shares. Rosenblatt Securities increased their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. Evercore ISI boosted their price target on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Finally, Pivotal Research boosted their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $807.70.

Netflix Price Performance

The firm has a fifty day moving average of $836.73 and a two-hundred day moving average of $731.55. The stock has a market capitalization of $398.44 billion, a P/E ratio of 52.75, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,977 shares of company stock valued at $129,317,467 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp grew its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the third quarter valued at about $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About Netflix

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.