Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,534 shares of the Internet television network’s stock after purchasing an additional 107 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Netflix were worth $6,856,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Norges Bank purchased a new stake in Netflix during the 4th quarter worth about $5,019,087,000. Arrowstreet Capital Limited Partnership raised its position in Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after purchasing an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX opened at $1,284.86 on Thursday. The firm has a market capitalization of $546.80 billion, a PE ratio of 60.72, a P/E/G ratio of 2.50 and a beta of 1.59. The stock’s 50 day moving average is $1,200.03 and its two-hundred day moving average is $1,031.42. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on NFLX shares. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Wolfe Research set a $1,340.00 target price on Netflix and gave the company an “outperform” rating in a report on Friday, May 16th. Macquarie raised their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Finally, Oppenheimer upped their price objective on Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,182.58.

Insider Buying and Selling at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% 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.