Netflix (NASDAQ:NFLX) Shares Up 3.8% – Time to Buy?

Netflix, Inc. (NASDAQ:NFLX) rose 3.8% during trading on Monday . The company traded as high as $81.02 and last traded at $80.32. Approximately 30,567,398 shares changed hands during trading, a decline of 29% from the average daily volume of 42,918,086 shares. The stock had previously closed at $77.40.

Analyst Upgrades and Downgrades

Several research firms recently commented on NFLX. Evercore restated an “outperform” rating and set a $110.00 price target (up from $100.00) on shares of Netflix in a research report on Monday. KeyCorp reaffirmed an “overweight” rating and issued a $92.00 price target (down from $115.00) on shares of Netflix in a report on Monday, July 13th. Loop Capital lowered their price target on Netflix from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of Netflix in a research report on Thursday, August 20th. Finally, President Capital dropped their price target on shares of Netflix from $134.00 to $83.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.53.

Netflix Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $75.83 and a two-hundred day moving average price of $84.42. The firm has a market cap of $324.37 billion, a PE ratio of 24.52, a P/E/G ratio of 1.13 and a beta of 1.53.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory Peters sold 27,312 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $73.54, for a total value of $2,008,524.48. Following the transaction, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at approximately $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David Hyman sold 5,723 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the transaction, the insider owned 316,100 shares in the company, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 179,045 shares of company stock valued at $13,132,194. Corporate insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in NFLX. Cornerstone Financial Management LLC acquired a new position in Netflix during the fourth quarter worth approximately $26,000. Redmont Wealth Advisors LLC grew its stake in shares of Netflix by 900.0% during the 4th quarter. Redmont Wealth Advisors LLC now owns 300 shares of the Internet television network’s stock valued at $28,000 after buying an additional 270 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in shares of Netflix during the 4th quarter worth $28,000. Core Wealth Advisors LLC purchased a new position in shares of Netflix in the 4th quarter worth $28,000. Finally, Evolution Wealth Management Inc. boosted its holdings in Netflix by 2,284.6% in the fourth quarter. Evolution Wealth Management Inc. now owns 310 shares of the Internet television network’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.