Netflix (NASDAQ:NFLX) Hits New 52-Week High - What's Next?

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,276.00 and last traded at $1,273.73, with a volume of 759970 shares. The stock had previously closed at $1,253.54.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. UBS Group increased their target price on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. BMO Capital Markets restated an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Price Performance

The stock's 50 day moving average price is $1,157.24 and its 200-day moving average price is $1,014.42. The stock has a market capitalization of $544.35 billion, a PE ratio of 59.24, a price-to-earnings-growth ratio of 2.43 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,660 shares of company stock valued at $209,802,025 over the last quarter. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in shares of Netflix during the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the 4th quarter valued at approximately $37,000. Finally, Flaharty Asset Management LLC acquired a new stake in Netflix in the 1st quarter valued at $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.