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

Piper Sandler reissued their overweight rating on shares of Netflix (NASDAQ:NFLX) in a research note released on Friday morning, Marketbeat.com reports. The firm currently has a $840.00 price objective on the Internet television network’s stock, up from their prior price objective of $800.00.

A number of other research analysts have also issued reports on the stock. Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group upped their price objective on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research note on Friday. Barclays reaffirmed an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research note on Monday, October 7th. UBS Group increased their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Pivotal Research lifted their price objective on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Netflix Price Performance

NFLX stock opened at $763.89 on Friday. The stock’s 50 day moving average price is $696.38 and its 200 day moving average price is $655.12. The firm has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a 1 year low of $392.26 and a 1 year high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.29 earnings per share. On average, sell-side analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently made changes to their positions in the stock. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its holdings in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. Indiana Trust & Investment Management CO grew its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.