Netflix (NASDAQ:NFLX) Reaches New 12-Month High – Here’s Why

Shares of Netflix, Inc. (NASDAQ:NFLX) reached a new 52-week high 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 Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Loop Capital boosted their target price on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI boosted their target price on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. UBS Group upped their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $753.45.

Netflix Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $363.59 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company’s 50 day simple moving average is $739.20 and its two-hundred day simple moving average is $683.35.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Research analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Timothy M. Haley sold 647 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,277 shares of company stock valued at $132,875,601 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently bought and sold shares of the company. Bahl & Gaynor Inc. grew its stake in shares of Netflix by 10.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 685 shares of the Internet television network’s stock worth $416,000 after acquiring an additional 66 shares in the last quarter. Vaughan David Investments LLC IL bought a new position in Netflix in the first quarter valued at $221,000. InterOcean Capital Group LLC increased its stake in Netflix by 20.9% in the 1st quarter. InterOcean Capital Group LLC now owns 2,140 shares of the Internet television network’s stock valued at $1,300,000 after buying an additional 370 shares during the last quarter. Crewe Advisors LLC bought a new stake in Netflix during the 1st quarter worth about $2,975,000. Finally, Payden & Rygel Investment Group acquired a new position in shares of Netflix during the 1st quarter worth about $1,342,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.