Netflix (NASDAQ:NFLX) Upgraded by Piper Sandler to Overweight

Piper Sandler upgraded shares of Netflix (NASDAQ:NFLX) from a neutral rating to an overweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Piper Sandler currently has $800.00 target price on the Internet television network’s stock, up from their prior target price of $650.00.

Other analysts have also issued reports about the company. Rosenblatt Securities reissued a neutral rating and issued a $635.00 price objective on shares of Netflix in a report on Friday, September 20th. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the company a buy rating in a report on Tuesday, June 18th. Redburn Atlantic raised their price objective on Netflix from $740.00 to $760.00 and gave the company a buy rating in a report on Friday, July 19th. TD Cowen raised their target price on Netflix from $725.00 to $775.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, Sanford C. Bernstein raised their target price on Netflix from $600.00 to $625.00 and gave the company a market perform rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $697.35.

Netflix Stock Up 0.4 %

Netflix stock opened at $730.29 on Monday. The firm has a market cap of $313.42 billion, a price-to-earnings ratio of 45.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a 52 week low of $344.73 and a 52 week high of $733.85. The business’s 50-day moving average price is $682.31 and its 200 day moving average price is $649.96. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period last year, the company earned $3.29 earnings per share. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Activity

In other news, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,564,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Denver PWM LLC purchased a new stake in Netflix during the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC lifted its holdings in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at about $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.