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

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

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $715.00 to $900.00 in a report on Wednesday. UBS Group raised their price target on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Up 9.7 %

NFLX stock opened at $953.99 on Wednesday. The firm has a 50-day moving average price of $886.64 and a 200-day moving average price of $762.07. Netflix has a 12 month low of $481.40 and a 12 month high of $999.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $407.79 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. As a group, equities research analysts anticipate that Netflix will post 23.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Netflix by 2.6% during 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. Geode Capital Management LLC increased its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC increased its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the last quarter. 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.