Netflix (NASDAQ:NFLX) Sets New 1-Year High - Still a Buy?

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $848.70 and last traded at $847.70, with a volume of 310583 shares trading hands. The stock had previously closed at $847.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Barclays reiterated an "underweight" rating and set a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Guggenheim raised their price objective on shares of Netflix from $810.00 to $825.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Netflix from $820.00 to $830.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Finally, TD Cowen boosted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $753.45.

Netflix Stock Up 2.9 %

The stock has a 50-day moving average price of $739.20 and a 200-day moving average price of $683.35. The company has a market capitalization of $372.45 billion, a P/E ratio of 48.21, a P/E/G ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 267 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now owns 35,262 shares of the company's stock, valued at $26,975,430. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,277 shares of company stock valued at $132,875,601. Corporate insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the third quarter valued at about $25,000. Denver PWM LLC bought a new position in shares of Netflix in the second quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network's stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its stake in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network's stock worth $35,000 after buying an additional 45 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.