Netflix (NASDAQ:NFLX) Hits New 1-Year High – Time to Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX) hit a new 52-week high during mid-day trading on Tuesday . The company 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 Ratings Changes

A number of brokerages recently commented on NFLX. KeyCorp raised their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. UBS Group upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $680.00 to $1,494.00 in a research note 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $432.51 billion, a P/E ratio of 50.99, a P/E/G ratio of 2.02 and a beta of 1.27. The firm’s fifty day moving average is $909.38 and its 200 day moving average is $784.44.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm posted $2.11 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 9,975 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,001.00, for a total value of $9,984,975.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,962,950. The trade was a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 291,585 shares of company stock worth $277,777,833 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the 3rd quarter worth approximately $25,000. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter valued at $34,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the 3rd quarter valued at $37,000. 80.93% of the stock is currently owned by institutional investors.

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.