Pinnacle Financial Partners Inc Sells 1,001 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pinnacle Financial Partners Inc lowered its position in Netflix, Inc. (NASDAQ:NFLXFree Report) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,723 shares of the Internet television network’s stock after selling 1,001 shares during the period. Pinnacle Financial Partners Inc’s holdings in Netflix were worth $2,161,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NFLX. Carmel Capital Partners LLC increased its position in Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. KB Financial Partners LLC increased its position in Netflix by 108.5% during the 2nd quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network’s stock valued at $43,000 after buying an additional 51 shares in the last quarter. Horizon Bancorp Inc. IN bought a new position in Netflix during the 2nd quarter valued at approximately $44,000. Missouri Trust & Investment Co bought a new position in Netflix during the 2nd quarter valued at approximately $44,000. Finally, Evermay Wealth Management LLC boosted its stake in Netflix by 94.9% during the 1st quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock valued at $40,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 79.95% of the company’s stock.

Netflix Stock Up 1.5 %

Shares of NFLX traded up $8.42 during mid-day trading on Friday, hitting $570.42. 12,755,630 shares of the company’s stock were exchanged, compared to its average volume of 7,108,607. The company has a market cap of $249.66 billion, a PE ratio of 47.49, a P/E/G ratio of 1.54 and a beta of 1.28. Netflix, Inc. has a 52 week low of $285.33 and a 52 week high of $579.64. The company has a 50-day simple moving average of $480.78 and a 200 day simple moving average of $438.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.29 and a quick ratio of 1.29.

Netflix (NASDAQ:NFLXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.30% and a net margin of 16.04%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. On average, research analysts forecast that Netflix, Inc. will post 16.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 16,030 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $417.61, for a total value of $6,694,288.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Reed Hastings sold 16,030 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $417.61, for a total value of $6,694,288.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $435.00, for a total value of $217,500.00. Following the sale, the director now directly owns 152 shares of the company’s stock, valued at $66,120. The disclosure for this sale can be found here. Insiders sold a total of 268,534 shares of company stock worth $131,284,553 in the last quarter. 2.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. Seaport Res Ptn reiterated a “buy” rating on shares of Netflix in a research report on Friday, October 6th. UBS Group upped their target price on Netflix from $560.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird upped their price target on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday. Evercore ISI upped their price target on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer increased their price objective on shares of Netflix from $600.00 to $615.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $553.33.

Check Out Our Latest Stock Analysis on NFLX

Netflix Company Profile

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

See Also

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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