Netflix (NASDAQ:NFLX) Hits New 12-Month High – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $908.70 and last traded at $906.01, with a volume of 379050 shares traded. The stock had previously closed at $902.17.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Sanford C. Bernstein lifted their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group lifted their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Oppenheimer lifted their target price on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned 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 $783.00.

Netflix Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $788.37 and its two-hundred day moving average price is $707.66. The stock has a market capitalization of $392.35 billion, a PE ratio of 51.95, a PEG ratio of 1.74 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating 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 firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock valued at $159,682,799 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% in 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 purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Netflix by 154.7% in 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 buying an additional 642,920 shares during the period. State Street Corp increased its holdings in Netflix by 2.6% in 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 buying an additional 426,740 shares during the period. Jennison Associates LLC increased its holdings 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 worth $4,958,417,000 after buying an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the 3rd quarter worth approximately $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.