Netflix, Inc. (NASDAQ:NFLX) shares have just hit an all-time high as the stock soared in early trading this morning, easily eclipsing its previous 52-week and all-time highs. With a market cap of over $55 billion the company is now trading at a PE ratio of 345.
A combination of technical and fundamental data has created a perfect storm for Netflix, Inc. (NASDAQ:NFLX) shares as investors rush in to take advantage of the stock breaching a key price level. It will be very interesting to watch and see how the market reacts throughout the day considering this move took place right out of the gate.The stock is currently trading higher by 3.43% or $4.3 following the positive news, hitting $129.67 per share at the time of us publishing this article. About 2.87 million shares traded hands. NFLX has declined 77.73% since April 29, 2015 and is downtrending. It has underperformed the S&P500 by 77.53%.
From a total of 25 analysts covering Netflix (NASDAQ:NFLX) stock, 20 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 80% of the ratings are positive. The highest target price is $175 while the lowest target price is $72. The mean of all analyst targets is $132.72 which is 2.35% above today’s ($129.67) stock price. Netflix was the topic of 36 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Topeka Capital Markets maintained shares on November 16 with a “Buy” rating. BMO Capital Markets initiated shares with a”Market Perform” rating and a $115 target share price in their report from an October 9. Oppenheimer maintained NFLX stock in a recent report from October 15 with a “Outperform” rating. Vetr upgraded the rating on September 1. Vetr has a “Hold” rating and a $122.24 price target on shares. Finally, JP Morgan maintained the stock with a “Overweight” rating in a report they issued on an October 15.
The institutional sentiment increased to 1.25 in Q2 2015. It’s up 0.10, from 1.15 in 2015Q1. The ratio is positive, as 54 funds sold all their Netflix, Inc. shares they owned while 178 reduced their positions. 109 funds bought stakes while 182 increased their total positions. Institutions now own 54.12 million shares which is 35.64% less than the previous share count of 84.09 million in 2015Q1.
Technology Crossover Management Vii Ltd. holds 40.06% of its total portfolio in Netflix, Inc., equating to 1.01 million shares. Srs Investment Management Llc owns 1.46 million shares representing 28.81% of their total US portfolio. Moreover, Barton Investment Management has 27.36% of their total portfolio invested in the company, equating to 117,690 shares. The New York-based Teewinot Capital Advisers L.L.C. has a total of 21.96% of their portfolio invested in the stock. Tiger Global Management Llc, a New York-based fund reported 2.57 million shares owned.
Since February 25, 2015, the stock had 0 buys, and 27 insider sales for a total of $102.38 million in net activity. Barton Richard N sold 2,800 shares worth $281,260. Hastings Reed sold 86,037 shares worth $8.68 million. Battle A George sold 49,000 shares worth $5.29 million. Cranz Tawni sold 1,512 shares worth $190,179. The insider Peters Gregory K sold 6,545 shares worth $841,491.
Netflix, Inc. is a provider of Internet television network. The company has a market cap of $55.42 billion. The Firm has over 57 million streaming members in over 50 countries. It has 345.76 P/E ratio. The Company’s members can watch more than two billion hours of television shows and movies per month, including original series, documentaries and feature films on Internet-connected screen.