Netflix (NASDAQ:NFLX) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Netflix (NASDAQ:NFLX) in a research report report published on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $1,100.00 target price on the Internet television network’s stock.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price on shares of Netflix in a research note on Friday, April 11th. FBN Securities initiated coverage on shares of Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,020.63.

Netflix Stock Performance

Shares of NFLX stock opened at $973.03 on Thursday. The firm’s 50 day moving average is $955.57 and its 200 day moving average is $889.98. The stock has a market capitalization of $416.22 billion, a P/E ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. Netflix has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the business posted $8.28 earnings per share. On average, sell-side analysts anticipate that Netflix will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,312 shares of company stock valued at $267,919,297. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after buying an additional 171,712 shares in the last quarter. FMR LLC lifted its stake in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Finally, Norges Bank purchased a new position in shares of Netflix during the fourth quarter valued at approximately $5,019,087,000. 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.