Netflix (NASDAQ:NFLX) Reaches New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. TD Cowen upped their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group raised 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. Morgan Stanley upped their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Trading Up 1.6 %

The company has a fifty day moving average of $909.38 and a 200-day moving average of $784.44. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $432.51 billion, a price-to-earnings ratio of 50.99, a PEG ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued 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 firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts anticipate 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 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 of the company’s stock, valued at approximately $12,962,950. This trade represents a 43.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 41,121 shares of the business’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 directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,585 shares of company stock valued at $277,777,833 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 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 increased its stake in Netflix by 1.4% during 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 during the last quarter. Jennison Associates LLC raised its position 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 period. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in 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 during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of 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 period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.