Netflix (NASDAQ:NFLX) Trading 1.9% Higher – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX)’s stock price shot up 1.9% during mid-day trading on Friday . The stock traded as high as $859.79 and last traded at $858.49. 1,137,965 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,983,082 shares. The stock had previously closed at $842.37.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NFLX shares. Oppenheimer cut their price objective on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group increased their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. TD Cowen lifted their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $845.06.

Netflix Stock Up 1.9 %

The firm’s fifty day moving average is $884.58 and its 200-day moving average is $758.48. The company has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at approximately $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 a total of 152,198 shares of company stock valued at $127,616,898 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently modified their holdings of the business. ProVise Management Group LLC lifted its holdings in Netflix by 29.3% during the 2nd quarter. ProVise Management Group LLC now owns 508 shares of the Internet television network’s stock worth $343,000 after buying an additional 115 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Netflix by 9.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,227 shares of the Internet television network’s stock worth $6,228,000 after acquiring an additional 766 shares during the period. AE Wealth Management LLC boosted its holdings in Netflix by 24.3% in the second quarter. AE Wealth Management LLC now owns 10,466 shares of the Internet television network’s stock valued at $7,063,000 after acquiring an additional 2,044 shares during the last quarter. Pacer Advisors Inc. increased its position in Netflix by 17.7% during the 2nd quarter. Pacer Advisors Inc. now owns 64,556 shares of the Internet television network’s stock valued at $43,568,000 after purchasing an additional 9,700 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Netflix by 26.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network’s stock worth $44,493,000 after purchasing an additional 13,848 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.