Netflix (NASDAQ:NFLX) Trading 2.3% Higher – Still a Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 2.3% during trading on Wednesday . The company traded as high as $935.85 and last traded at $932.12. 2,320,293 shares were traded during mid-day trading, a decline of 36% from the average session volume of 3,602,471 shares. The stock had previously closed at $911.45.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $807.70.

Netflix Stock Performance

The company’s 50 day moving average is $841.25 and its 200 day moving average is $733.60. The firm has a market cap of $398.44 billion, a P/E ratio of 52.75, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,183 shares of company stock worth $125,841,817. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Denver PWM LLC acquired a new stake in Netflix during the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Netflix in the third quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.