Netflix (NASDAQ:NFLX) Given Overweight Rating at Piper Sandler

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a report released 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 target price would suggest a potential upside of 11.69% from the company’s current price.

NFLX has been the topic of a number of other reports. Guggenheim boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America boosted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $940.00 to $1,150.00 in a report on Wednesday. Finally, Loop Capital raised their price target on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $996.94.

Netflix Stock Up 3.2 %

NFLX opened at $984.86 on Wednesday. The company’s 50-day moving average price is $889.11 and its two-hundred day moving average price is $763.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00. The stock has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, 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 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 analyst estimates of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 earnings per share. As a group, equities analysts expect that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 146,500 shares of company stock worth $123,309,210 in the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position 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 buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the period. State Street Corp grew its stake 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 purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC increased its holdings in 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 period. Finally, Westfield Capital Management Co. LP bought a new position in Netflix during the 3rd quarter valued at approximately $222,871,000. 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.