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

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $1,100.00 price target on the Internet television network’s stock, up from their previous price target of $950.00. Piper Sandler’s price objective points to a potential upside of 13.73% from the stock’s current price.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup upped their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Bank of America boosted their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price target for the company from $680.00 to $1,494.00 in a research report on Wednesday. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $981.09.

Netflix Stock Performance

NFLX traded up $97.52 during trading hours on Wednesday, reaching $967.20. The company’s stock had a trading volume of 8,674,372 shares, compared to its average volume of 4,108,505. The company’s 50-day moving average is $886.64 and its 200-day moving average is $762.07. Netflix has a 52 week low of $481.40 and a 52 week high of $999.00. The firm has a market cap of $413.44 billion, a PE ratio of 54.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share. On average, equities analysts forecast that Netflix will post 19.76 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction that occurred 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 sale, the director now directly owns 246 shares in the company, valued at $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock valued at $127,616,898 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% during the third 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. lifted its holdings in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp grew its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC grew its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix during the third quarter valued at $222,871,000. 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.