Netflix, Inc. (NASDAQ:NFLX) Stock Position Raised by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,427 shares of the Internet television network’s stock after buying an additional 1,123 shares during the period. Pinnacle Financial Partners Inc’s holdings in Netflix were worth $6,620,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NFLX. AMF Tjanstepension AB boosted its stake in Netflix by 7.4% during the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock valued at $48,557,000 after purchasing an additional 4,701 shares during the period. Swedbank AB boosted its stake in Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after purchasing an additional 8,024 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Netflix by 17.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 634 shares of the Internet television network’s stock valued at $450,000 after purchasing an additional 92 shares during the period. Busey Bank boosted its stake in Netflix by 3.7% during the 3rd quarter. Busey Bank now owns 794 shares of the Internet television network’s stock valued at $563,000 after purchasing an additional 28 shares during the period. Finally, BayBridge Capital Group LLC boosted its stake in Netflix by 1.5% during the 3rd quarter. BayBridge Capital Group LLC now owns 2,069 shares of the Internet television network’s stock valued at $1,467,000 after purchasing an additional 31 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 2.1 %

NFLX stock opened at $1,003.15 on Friday. The firm has a market capitalization of $429.10 billion, a P/E ratio of 50.59, a P/E/G ratio of 2.12 and a beta of 1.27. 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 company’s 50 day simple moving average is $940.55 and its 200-day simple moving average is $819.90. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NFLX. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Loop Capital boosted their target price on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Evercore ISI boosted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Transactions at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock worth $289,856,164 in the last 90 days. 1.76% of the stock is owned by insiders.

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.