Netflix (NASDAQ:NFLX) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Netflix (NASDAQ:NFLX) in a report released on Wednesday,Benzinga reports. The firm currently has a $1,100.00 price objective on the Internet television network’s stock, up from their previous price objective of $950.00.

NFLX has been the subject of several other reports. Robert W. Baird raised their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Bank of America boosted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $993.82.

Netflix Stock Performance

Shares of NFLX opened at $953.99 on Wednesday. Netflix has a 1 year low of $481.40 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $886.64 and its two-hundred day moving average price is $762.07. The firm has a market cap of $407.79 billion, a PE ratio of 48.11, a PEG ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 EPS. On average, equities research analysts forecast that Netflix will post 23.43 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 over the last three months. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the last quarter. State Street Corp increased its stake in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the third quarter worth $222,871,000. 80.93% of the stock is owned by 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.