Netflix (NASDAQ:NFLX) Stock Price Up 1.4% – Time to Buy?

Netflix, Inc. (NASDAQ:NFLX) shares were up 1.4% during mid-day trading on Thursday . The stock traded as high as $987.50 and last traded at $984.23. Approximately 1,038,529 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,481,093 shares. The stock had previously closed at $970.65.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, UBS Group reiterated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,021.02.

Netflix Stock Down 4.4 %

The stock’s 50-day simple moving average is $971.74 and its 200 day simple moving average is $866.75. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $399.46 billion, a P/E ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NFLX. Pathway Financial Advisers LLC lifted its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter valued at about $32,000. Newton One Investments LLC purchased a new position in Netflix during the fourth quarter worth about $34,000. Finally, Pineridge Advisors LLC grew its position in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. 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.