Netflix (NASDAQ:NFLX) Shares Up 0.1% – Time to Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 0.1% on Thursday . The company traded as high as $898.58 and last traded at $892.48. Approximately 653,082 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,583,552 shares. The stock had previously closed at $891.32.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. Guggenheim boosted their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer boosted their target price on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. UBS Group raised their price target on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Bank of America upped their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their target price on Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.70.

Netflix Price Performance

The stock has a market cap of $376.65 billion, a P/E ratio of 49.87, a P/E/G ratio of 1.77 and a beta of 1.27. The business has a 50 day simple moving average of $861.40 and a 200-day simple moving average of $743.72. 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 posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on 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 owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 114,893 shares of company stock worth $93,859,830 in the last quarter. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. Denver PWM LLC bought a new position in Netflix in the 2nd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 worth $34,000 after acquiring an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the third quarter valued at $37,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Netflix during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About Netflix

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.