Netflix (NASDAQ:NFLX) Sets New 52-Week High – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $908.70 and last traded at $906.01, with a volume of 379050 shares changing hands. The stock had previously closed at $902.17.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NFLX shares. Guggenheim increased their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. TD Cowen increased their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. Finally, Jefferies Financial Group increased their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $775.58.

Netflix Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $389.60 billion, a price-to-earnings ratio of 51.70, a P/E/G ratio of 1.73 and a beta of 1.27. The firm’s fifty day simple moving average is $780.46 and its 200 day simple moving average is $704.75.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (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 company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In related news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were 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 of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock worth $159,682,799 over the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cullinan Associates Inc. boosted its position in Netflix by 98.6% during the second quarter. Cullinan Associates Inc. now owns 1,390 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 690 shares during the period. Indiana Trust & Investment Management CO boosted its position in Netflix by 45.3% during the second quarter. Indiana Trust & Investment Management CO now owns 77 shares of the Internet television network’s stock worth $52,000 after purchasing an additional 24 shares during the period. Csenge Advisory Group boosted its position in Netflix by 13.1% during the second quarter. Csenge Advisory Group now owns 1,536 shares of the Internet television network’s stock worth $1,037,000 after purchasing an additional 178 shares during the period. Parkside Investments LLC bought a new position in Netflix during the second quarter worth $810,000. Finally, Warther Private Wealth LLC bought a new position in Netflix during the second quarter worth $270,000. 80.93% of the stock is 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.