Netflix (NASDAQ:NFLX) Price Target Raised to $1,500.00 at Piper Sandler

Netflix (NASDAQ:NFLX) had its target price boosted by Piper Sandler from $1,400.00 to $1,500.00 in a research note issued to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the Internet television network’s stock.

A number of other brokerages also recently issued reports on NFLX. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Seaport Res Ptn downgraded Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. The Goldman Sachs Group boosted their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Finally, KeyCorp increased their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,275.30.

Netflix Stock Down 5.1%

NASDAQ NFLX opened at $1,209.24 on Friday. The stock’s 50 day moving average is $1,232.59 and its 200 day moving average is $1,060.77. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix has a 12 month low of $587.04 and a 12 month high of $1,341.15. The stock has a market cap of $514.62 billion, a PE ratio of 51.52, a P/E/G ratio of 2.30 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 43.00%. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter last year, the business posted $4.88 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after acquiring an additional 509,255 shares in the last quarter. FMR LLC lifted its position in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock valued at $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the period. Finally, GAMMA Investing LLC boosted its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.