Piper Sandler Begins Coverage on Netflix (NASDAQ:NFLX)

Piper Sandler began coverage on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $1,100.00 price target on the Internet television network’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. KeyCorp decreased their price objective on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley boosted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Robert W. Baird upped their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,020.63.

Netflix Trading Up 1.2 %

Netflix stock opened at $973.03 on Thursday. The business has a 50-day simple moving average of $955.57 and a two-hundred day simple moving average of $889.98. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $416.22 billion, a P/E ratio of 49.07, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the business posted $8.28 earnings per share. Analysts predict that Netflix will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,312 shares of company stock worth $267,919,297. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NFLX. Nordea Investment Management AB grew its position in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the last quarter. First National Trust Co boosted its stake in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC bought a new position in shares of Netflix in the fourth quarter worth about $733,000. Sigma Planning Corp increased its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the period. Finally, M&T Bank Corp lifted its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Institutional investors 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.