Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,533 shares of the Internet television network’s stock after selling 25 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Netflix were worth $1,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Jennison Associates LLC grew its position in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after purchasing an additional 392,427 shares during the period. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Netflix by 171.4% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock valued at $231,258,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Netflix in the third quarter worth $99,219,000. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. KeyCorp increased their price objective on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Piper Sandler raised their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. The Goldman Sachs Group upped their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Needham & Company LLC upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 target price for the company in a research report on Friday, April 19th. Finally, UBS Group boosted their price target on shares of Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Insiders sold a total of 155,298 shares of company stock valued at $89,753,167 over the last ninety days. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $3.47 on Wednesday, hitting $609.47. 3,092,564 shares of the company were exchanged, compared to its average volume of 4,404,261. The company’s 50 day moving average price is $602.85 and its two-hundred day moving average price is $531.62. The firm has a market capitalization of $262.66 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix, Inc. has a one year low of $329.51 and a one year high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Netflix, Inc. will post 18.3 earnings per share for the current year.

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.