Netflix (NASDAQ:NFLX) Hits New 1-Year High - Time to Buy?

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $1,219.40 and last traded at $1,218.98, with a volume of 2287791 shares changing hands. The stock had previously closed at $1,207.23.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wedbush restated an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Macquarie raised their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Wells Fargo & Company raised their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Barclays raised their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,149.91.

Netflix Trading Up 1.8%

The firm has a market cap of $527.56 billion, a PE ratio of 62.51, a P/E/G ratio of 2.12 and a beta of 1.58. The company's fifty day moving average price is $1,069.06 and its two-hundred day moving average price is $980.69. 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 issued its earnings results 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 net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $4,472,273.97. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,300 shares of company stock valued at $169,146,939. Corporate insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Harold Davidson & Associates Inc. increased its position in shares of Netflix by 6.4% in the first quarter. Harold Davidson & Associates Inc. now owns 466 shares of the Internet television network's stock valued at $435,000 after buying an additional 28 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in Netflix by 231.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 63 shares of the Internet television network's stock worth $59,000 after acquiring an additional 44 shares during the last quarter. Cim Investment Management Inc. lifted its holdings in shares of Netflix by 6.7% in the first quarter. Cim Investment Management Inc. now owns 3,338 shares of the Internet television network's stock valued at $3,113,000 after purchasing an additional 209 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of Netflix by 38.6% in the first quarter. Modern Wealth Management LLC now owns 1,375 shares of the Internet television network's stock valued at $1,282,000 after purchasing an additional 383 shares in the last quarter. Finally, Nova Wealth Management Inc. grew its position in shares of Netflix by 25.3% in the first quarter. Nova Wealth Management Inc. now owns 109 shares of the Internet television network's stock valued at $102,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

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.