Netflix (NASDAQ:NFLX) Sets New 12-Month High - Here's Why

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $1,162.57 and last traded at $1,154.67, with a volume of 1407141 shares changing hands. The stock had previously closed at $1,137.69.

Analyst Ratings Changes

Several analysts recently weighed in on NFLX shares. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. Pivotal Research raised their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Wolfe Research upgraded Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Netflix from $1,025.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Robert W. Baird raised their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,084.91.

Netflix Trading Up 1.3 %

The firm's 50 day simple moving average is $974.71 and its two-hundred day simple moving average is $925.04. The stock has a market capitalization of $490.58 billion, a P/E ratio of 57.98, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the firm earned $8.28 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the sale, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,451 shares of company stock worth $142,194,072. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% in the 1st 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 during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter worth approximately $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC bought a new position in Netflix in the fourth quarter worth approximately $34,000. 80.93% of the stock is owned by 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.

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