Netflix (NASDAQ:NFLX) Trading 1.3% Higher – Time to Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 1.3% on Wednesday . The company traded as high as $915.23 and last traded at $913.54. 687,249 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,636,827 shares. The stock had previously closed at $902.17.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NFLX. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Sanford C. Bernstein lifted their price objective on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $775.58.

Netflix Stock Up 1.0 %

The firm has a 50-day moving average of $780.46 and a 200 day moving average of $704.75. The stock has a market capitalization of $389.55 billion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock worth $159,682,799 in the last three months. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently made changes to their positions in the company. Advisory Resource Group increased its holdings in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after acquiring an additional 12 shares during the last quarter. New World Advisors LLC grew its stake in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after buying an additional 14 shares during the last quarter. Heartland Bank & Trust Co grew its stake in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the last quarter. Cedrus LLC grew its stake in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares during the last quarter. Finally, Capstone Triton Financial Group LLC grew its stake in Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares during the last quarter. 80.93% of the stock is currently owned by 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.