Netflix (NASDAQ:NFLX) Shares Up 2.1% – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) shares shot up 2.1% on Wednesday . The company traded as high as $999.76 and last traded at $997.63. 1,162,951 shares traded hands during trading, a decline of 71% from the average session volume of 4,079,876 shares. The stock had previously closed at $977.24.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Loop Capital raised their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Pivotal Research lifted their target price on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup boosted their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Bank of America increased their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Up 1.1 %

The company has a 50 day moving average of $943.06 and a 200-day moving average of $826.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $422.76 billion, a P/E ratio of 49.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB lifted its stake in shares of Netflix by 7.4% in the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock valued at $48,557,000 after purchasing an additional 4,701 shares during the last quarter. Swedbank AB raised its holdings in Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after purchasing an additional 8,024 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Netflix by 17.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 634 shares of the Internet television network’s stock valued at $450,000 after acquiring an additional 92 shares during the period. Modera Wealth Management LLC increased its position in Netflix by 5.5% in the 3rd quarter. Modera Wealth Management LLC now owns 1,758 shares of the Internet television network’s stock valued at $1,247,000 after acquiring an additional 92 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its position in Netflix by 43.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,457 shares of the Internet television network’s stock valued at $1,033,000 after buying an additional 442 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.