Pinnacle Financial Partners Inc Purchases 1,123 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pinnacle Financial Partners Inc increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Netflix by 22.7% in 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 purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC boosted its holdings in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the period. M&T Bank Corp boosted its holdings 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 valued at $29,751,000 after purchasing an additional 1,684 shares during the period. Finally, Quilter Plc boosted its holdings in Netflix by 8.2% in the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after purchasing an additional 10,946 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NFLX shares. Macquarie increased their price target on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Loop Capital increased their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Trading Down 2.1 %

NFLX opened at $1,003.15 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $429.10 billion, a PE ratio of 50.59, a PEG ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The firm has a 50-day moving average price of $940.55 and a two-hundred day moving average price of $819.90.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The company 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 company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.