Netflix (NASDAQ:NFLX) Hits New 1-Year High at $725.12

Netflix, Inc. (NASDAQ:NFLX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $725.12 and last traded at $724.01, with a volume of 776669 shares traded. The stock had previously closed at $722.26.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NFLX shares. Jefferies Financial Group increased their price objective on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Evercore ISI increased their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Bank of America lifted their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Trading Down 1.4 %

The firm has a market cap of $306.63 billion, a PE ratio of 49.37, a PEG ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average price of $668.14 and a two-hundred day moving average price of $643.69.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the firm posted $3.29 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The disclosure for this sale can be found here. Insiders sold 202,020 shares of company stock worth $133,334,342 in the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Netflix during the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Netflix in the first quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the first quarter valued at approximately $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.