Netflix (NASDAQ:NFLX) Trading 0.1% Higher – Should You Buy?

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 0.1% during mid-day trading on Wednesday . The stock traded as high as $987.64 and last traded at $972.89. Approximately 1,107,784 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,498,255 shares. The stock had previously closed at $971.83.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and raised their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Trading Up 0.4 %

The business’s 50 day simple moving average is $899.64 and its two-hundred day simple moving average is $772.71. The stock has a market cap of $417.00 billion, a P/E ratio of 49.12, a PEG ratio of 1.53 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 23.72 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix 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 transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. State Street Corp lifted its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC lifted its holdings in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC lifted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC lifted 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 valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 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.