Netflix (NASDAQ:NFLX) Stock Price Up 0.9% – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) shares traded up 0.9% during trading on Friday . The company traded as high as $719.48 and last traded at $713.49. 628,074 shares changed hands during trading, a decline of 83% from the average session volume of 3,665,679 shares. The stock had previously closed at $706.80.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NFLX shares. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Morgan Stanley upped their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. TD Cowen raised their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Macquarie reissued an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Netflix in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $686.03.

Netflix Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $309.54 billion, a price-to-earnings ratio of 49.51, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a 50-day moving average price of $675.08 and a 200-day moving average price of $647.16.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Denver PWM LLC purchased a new position in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the period. Beaird Harris Wealth Management LLC grew its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Netflix in the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.