Netflix (NASDAQ:NFLX) Coverage Initiated at Piper Sandler

Research analysts at Piper Sandler began coverage on shares of Netflix (NASDAQ:NFLX - Get Free Report) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $1,100.00 price target on the Internet television network's stock. Piper Sandler's price objective suggests a potential upside of 10.87% from the company's current price.

Several other research analysts also recently weighed in on the company. Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Pivotal Research raised their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Netflix from $1,150.00 to $1,025.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,067.71.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $19.13 during trading on Thursday, hitting $992.16. The company's stock had a trading volume of 5,827,652 shares, compared to its average volume of 3,683,922. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $424.40 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a 50-day moving average of $954.87 and a 200-day moving average of $894.38. Netflix has a 12 month low of $542.01 and a 12 month high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter last year, the company earned $8.28 earnings per share. On average, sell-side analysts expect that Netflix will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This represents a 98.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 in the last 90 days. Corporate insiders own 1.76% of the company's stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Newton One Investments LLC purchased a new position in Netflix during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds 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.