Netflix (NASDAQ:NFLX) Sets New 12-Month High – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $1,006.06 and last traded at $1,000.58, with a volume of 1401064 shares trading hands. The stock had previously closed at $978.94.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Macquarie increased their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Oppenheimer lifted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research report on Thursday, January 23rd. Needham & Company LLC upped their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

The firm has a market capitalization of $418.95 billion, a price-to-earnings ratio of 49.40, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The stock’s fifty day moving average price is $906.93 and its two-hundred day moving average price is $781.90. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,710 shares of company stock worth $233,561,836 in the last three months. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its holdings in 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 last quarter. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% during the 3rd 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 purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.