Pinnacle Financial Partners Inc Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Pinnacle Financial Partners Inc increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,427 shares of the Internet television network's stock after buying an additional 1,123 shares during the quarter. 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 and hedge funds also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the third quarter valued at approximately $25,000. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $34,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated 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 sale, the director now directly owns 246 shares of the company's stock, valued at $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

Netflix stock traded down $21.39 during mid-day trading on Friday, reaching $1,003.15. 3,730,394 shares of the company traded hands, compared to its average volume of 3,484,255. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm's fifty day moving average is $940.55 and its two-hundred day moving average is $819.90. 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 has a market capitalization of $429.10 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts' consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. Phillip Securities cut shares of Netflix from a "hold" rating to a "moderate sell" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Barclays upgraded shares of Netflix from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Piper Sandler restated an "overweight" rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.70.

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.