Netflix (NASDAQ:NFLX) Shares Up 0.5% – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $880.95 and last traded at $877.34. 2,575,914 shares traded hands during trading, a decline of 30% from the average session volume of 3,668,794 shares. The stock had previously closed at $872.60.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group boosted their price target on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Stock Performance

The stock’s 50 day moving average price is $773.01 and its two-hundred day moving average price is $699.54. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $379.07 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 1.69 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $9.77 billion. On average, analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp increased its position in 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 purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC raised its stake in Netflix by 4.7% in the 3rd 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 last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.