Netflix (NASDAQ:NFLX) Sets New 1-Year High – Should You Buy?

Netflix, Inc. (NASDAQ:NFLX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $773.00 and last traded at $764.34, with a volume of 717012 shares traded. The stock had previously closed at $763.91.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Wedbush increased their price target on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. China Renaissance initiated coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. Guggenheim lifted their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group upped their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Stock Performance

The firm has a market cap of $333.51 billion, a PE ratio of 44.15, a PEG ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $717.59 and a two-hundred day simple moving average of $667.98.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 229,477 shares of company stock valued at $160,300,776. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. grew its position in Netflix by 3,580.0% during the first quarter. Richardson Financial Services Inc. now owns 184 shares of the Internet television network’s stock worth $112,000 after buying an additional 179 shares in the last quarter. Cohen Capital Management Inc. purchased a new position in Netflix during the first quarter worth about $281,000. Financial Council LLC purchased a new position in Netflix during the first quarter worth about $237,000. Advisory Alpha LLC grew its position in Netflix by 5.7% during the first quarter. Advisory Alpha LLC now owns 1,564 shares of the Internet television network’s stock worth $950,000 after buying an additional 85 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in Netflix by 39.4% during the first quarter. Manchester Capital Management LLC now owns 478 shares of the Internet television network’s stock worth $290,000 after buying an additional 135 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.