Netflix’s (NFLX) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has a $1,100.00 target price on the Internet television network’s stock, up from their previous target price of $950.00.

Other analysts also recently issued reports about the stock. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Pivotal Research increased their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price target on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Oppenheimer boosted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.29.

Netflix Price Performance

Shares of NFLX opened at $977.59 on Wednesday. The company has a market capitalization of $417.88 billion, a P/E ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. The business’s 50-day moving average is $892.06 and its two-hundred day moving average is $764.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period last year, the business earned $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts predict that Netflix will post 23.72 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. The trade was a 99.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Epoch Investment Partners Inc. increased its position in shares of Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock valued at $367,000 after acquiring an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its position in shares of Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after purchasing an additional 86 shares during the period. Clear Point Advisors Inc. increased its holdings in Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after purchasing an additional 17 shares during the last quarter. Insigneo Advisory Services LLC raised its position in Netflix by 10.6% in the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after purchasing an additional 786 shares during the period. Finally, Fred Alger Management LLC lifted its stake in Netflix by 4.7% during the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after purchasing an additional 20,962 shares in the last quarter. 80.93% of the stock is currently 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.