Netflix (NASDAQ:NFLX) Hits New 52-Week High – Still a Buy?

Netflix, Inc. (NASDAQ:NFLX) reached a new 52-week high on Wednesday . The stock traded as high as $773.00 and last traded at $764.34, with a volume of 717012 shares trading hands. The stock had previously closed at $763.91.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Benchmark reissued a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target for the company. Finally, Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Stock Down 0.2 %

The firm has a market capitalization of $339.85 billion, a P/E ratio of 44.99, a PEG ratio of 1.50 and a beta of 1.25. The firm’s 50-day moving average is $721.55 and its 200 day moving average is $670.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,112 shares of company stock worth $169,954,456. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. New World Advisors LLC increased its stake in shares of Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co increased its stake in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC increased its stake in shares of Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after purchasing an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC increased its stake in shares of Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after purchasing an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC increased its stake in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.