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 report sent to investors on Monday morning, Marketbeat reports. Piper Sandler currently has $800.00 price objective on the Internet television network’s stock, up from their prior price objective of $650.00.

NFLX has been the topic of several other research reports. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the stock a buy rating in a research note on Tuesday, June 18th. UBS Group lifted their target price on Netflix from $685.00 to $750.00 and gave the company a buy rating in a research note on Friday, July 19th. Benchmark lifted their target price on Netflix from $450.00 to $545.00 and gave the company a sell rating in a research note on Tuesday, July 16th. Morgan Stanley lifted their target price on Netflix from $700.00 to $780.00 and gave the company an overweight rating in a research note on Monday, July 15th. Finally, Pivotal Research lifted their target price on Netflix from $800.00 to $900.00 and gave the company a buy rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of Moderate Buy and a consensus target price of $697.35.

Netflix Trading Up 0.4 %

Shares of NASDAQ:NFLX opened at $730.29 on Monday. The stock has a market capitalization of $313.42 billion, a price-to-earnings ratio of 45.64, 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. The stock’s 50-day simple moving average is $682.31 and its two-hundred day simple moving average is $649.96. Netflix has a 52-week low of $344.73 and a 52-week high of $733.85.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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 the consensus estimate of $9.53 billion. During the same quarter last year, the company earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that Netflix will post 19.08 EPS for the current year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction 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 transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 45,290 shares of the 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 in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 224,784 shares of company stock worth $150,212,870 in the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently made changes to their positions in the stock. Denver PWM LLC purchased a new stake in shares of Netflix during the 2nd quarter worth $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Proffitt & Goodson Inc. lifted its stake in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. AlphaMark Advisors LLC lifted 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 purchasing an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO raised its stake in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.