Netflix (NASDAQ:NFLX) Reaches New 52-Week High – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) shares reached a new 52-week high on Tuesday . The company traded as high as $815.48 and last traded at $814.05, with a volume of 462589 shares changing hands. The stock had previously closed at $805.44.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Macquarie restated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America increased their price objective on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Finally, Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Stock Performance

The stock has a market cap of $354.99 billion, a P/E ratio of 47.00, a P/E/G ratio of 1.58 and a beta of 1.25. The company has a fifty day moving average price of $726.52 and a 200 day moving average price of $675.52. 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 announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,644 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,163,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,084 shares of company stock valued at $146,747,101. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in the business. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the 3rd quarter worth about $25,000. Proffitt & Goodson Inc. boosted its holdings in shares of 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 purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by 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.