PNC Financial Services Group Inc. Sells 10,077 Shares of Netflix, Inc. (NASDAQ:NFLX)

PNC Financial Services Group Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,336 shares of the Internet television network's stock after selling 10,077 shares during the period. PNC Financial Services Group Inc.'s holdings in Netflix were worth $133,106,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network's stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Sigma Planning Corp boosted its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock worth $4,966,000 after purchasing an additional 386 shares in the last quarter. Natixis Advisors LLC boosted its stake in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

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Netflix Stock Performance

Netflix stock traded down $15.25 during midday trading on Friday, hitting $891.11. The stock had a trading volume of 7,733,383 shares, compared to its average volume of 3,352,894. The firm's fifty day moving average is $950.26 and its two-hundred day moving average is $842.54. The company has a market capitalization of $381.18 billion, a PE ratio of 44.94, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on NFLX shares. Benchmark upgraded shares of Netflix from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Wedbush reiterated an "outperform" rating and issued a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. 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. KeyCorp boosted their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average target price of $1,021.70.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 in the last three months. 1.76% of the stock is owned by company insiders.

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.