Netflix (NASDAQ:NFLX) Stock Price Up 1.4% – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) shares were up 1.4% during trading on Thursday . The company traded as high as $987.50 and last traded at $984.23. Approximately 1,038,529 shares changed hands during trading, a decline of 70% from the average daily volume of 3,481,093 shares. The stock had previously closed at $970.65.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFLX. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and increased their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. KeyCorp increased their target price on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday. Finally, Robert W. Baird lifted their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,021.02.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a fifty day moving average price of $971.74 and a two-hundred day moving average price of $866.75. The company has a market cap of $399.46 billion, a P/E ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the company earned $2.11 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,583 shares of company stock worth $279,611,567. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter worth about $32,000. Newton One Investments LLC bought a new stake in shares of Netflix during the 4th quarter worth about $34,000. Finally, Pineridge Advisors LLC grew its stake in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 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.