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

PNC Financial Services Group Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.3% in the 4th quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in shares of Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares in the last quarter. State Street Corp lifted its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after buying an additional 381,590 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Netflix in the 3rd quarter valued at $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 2,682 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Guggenheim boosted their price target on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Down 1.7 %

Shares of NASDAQ NFLX opened at $891.11 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50-day moving average price of $950.26 and a 200-day moving average price of $841.52. The stock has a market capitalization of $381.18 billion, a P/E ratio of 44.94, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50.

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