Netflix (NASDAQ:NFLX) Shares Up 3.8% – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) traded up 3.8% on Monday . The company traded as high as $960.75 and last traded at $953.28. 2,671,561 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 3,407,213 shares. The stock had previously closed at $918.00.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price objective on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Price Performance

The business’s 50-day simple moving average is $951.04 and its 200 day simple moving average is $849.90. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $412.54 billion, a P/E ratio of 48.70, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released 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. 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 in the prior year, the firm posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, 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 of the company’s stock, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last three months, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Michigan Advisors LLC lifted its position in shares of Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. lifted its holdings in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC boosted its position in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after acquiring an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after acquiring an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. 80.93% of the stock is currently 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.