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

Pitti Group Wealth Management LLC decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,647 shares of the Internet television network’s stock after selling 373 shares during the period. Netflix accounts for 1.4% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 21st largest position. Pitti Group Wealth Management LLC’s holdings in Netflix were worth $1,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFLX. KFA Private Wealth Group LLC increased its position in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares in the last quarter. Addison Advisors LLC increased its position in shares of Netflix by 7.8% in the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after acquiring an additional 20 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its position in shares of Netflix by 1.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock worth $635,000 after acquiring an additional 21 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Netflix by 5.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 393 shares of the Internet television network’s stock worth $191,000 after acquiring an additional 22 shares in the last quarter. Finally, Centurion Wealth Management LLC increased its position in shares of Netflix by 2.4% in the fourth quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network’s stock worth $479,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent research reports. Evercore ISI increased their price objective on shares of Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Macquarie raised their price target on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Guggenheim raised their price target on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Rosenblatt Securities lowered their price target on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Citigroup raised their price target on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Performance

Shares of NFLX stock traded down $3.57 during trading hours on Friday, reaching $561.23. The stock had a trading volume of 4,332,593 shares, compared to its average volume of 4,190,527. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $639.00. The firm has a 50-day simple moving average of $604.54 and a 200-day simple moving average of $520.48. The firm has a market capitalization of $241.83 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the company earned $2.88 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that Netflix, Inc. will post 18.13 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,573 shares of company stock valued at $89,548,241. Company insiders own 2.45% of the company’s stock.

Netflix 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.