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

Pinnacle Financial Partners Inc lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,304 shares of the Internet television network’s stock after buying an additional 44 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Netflix were worth $4,471,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. GQG Partners LLC purchased a new position in Netflix during the first quarter worth about $1,450,476,000. Assenagon Asset Management S.A. increased its stake in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the 1st quarter valued at about $372,293,000. Finally, Swedbank AB bought a new stake in shares of Netflix during the 1st quarter valued at about $216,538,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $830.47 on Thursday. The company has a market cap of $354.99 billion, a PE ratio of 47.00, a P/E/G ratio of 1.58 and a beta of 1.25. The business has a 50 day moving average of $726.52 and a 200 day moving average of $675.52. Netflix, Inc. has a 52 week low of $445.64 and a 52 week high of $836.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFLX. BMO Capital Markets restated an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Pivotal Research increased their price target on shares of Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Guggenheim lifted their price objective on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Bank of America upped their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Barclays restated an “underweight” rating and set a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $748.15.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,084 shares of company stock worth $146,747,101 over the last three months. Company insiders own 1.76% of the company’s stock.

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.