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

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They presently have a $840.00 price target on the Internet television network’s stock, up from their prior price target of $800.00. Piper Sandler’s price objective indicates a potential upside of 11.48% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Pivotal Research lifted their price target on shares of Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday. Barclays reiterated an “underweight” rating and set a $550.00 price target on shares of Netflix in a research note on Monday, October 7th. UBS Group lifted their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen lifted their price target on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $731.94.

Netflix Stock Up 9.6 %

Shares of NFLX traded up $65.88 during midday trading on Friday, reaching $753.53. The stock had a trading volume of 5,342,535 shares, compared to its average volume of 3,670,801. Netflix has a 1-year low of $392.26 and a 1-year high of $756.90. The company’s fifty day simple moving average is $693.78 and its two-hundred day simple moving average is $653.62. The company has a market cap of $324.77 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. RFG Advisory LLC raised its position in shares of Netflix by 24.7% in the first quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock valued at $1,392,000 after buying an additional 454 shares during the last quarter. Meyer Handelman Co. raised its position in shares of Netflix by 0.8% in the first quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock valued at $2,039,000 after buying an additional 25 shares during the last quarter. Congress Asset Management Co. MA raised its position in shares of Netflix by 6.6% in the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock valued at $11,469,000 after buying an additional 1,174 shares during the last quarter. MJP Associates Inc. ADV acquired a new position in shares of Netflix in the first quarter valued at approximately $360,000. Finally, &PARTNERS raised its position in shares of Netflix by 158.2% in the first quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock valued at $838,000 after buying an additional 845 shares during the last quarter. Institutional investors and hedge funds 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.