Pinnacle Wealth Planning Services Inc. Has $2.17 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pinnacle Wealth Planning Services Inc. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,437 shares of the Internet television network’s stock after selling 556 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Netflix were worth $2,172,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. West Michigan Advisors LLC boosted its stake in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares during the last quarter. Enzi Wealth boosted its stake in shares of Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after buying an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. lifted its stake in Netflix by 1.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after purchasing an additional 11 shares during the last quarter. Blossom Wealth Management lifted its stake in Netflix by 0.9% in the 4th quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock valued at $1,112,000 after purchasing an additional 11 shares during the last quarter. Finally, Everett Harris & Co. CA lifted its stake in Netflix by 1.3% in the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 11 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NFLX. JPMorgan Chase & Co. raised their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America raised their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Macquarie raised their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Loop Capital raised their target price 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. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $990.92 on Thursday. The company’s 50 day simple moving average is $950.95 and its 200 day simple moving average is $838.65. The stock has a market capitalization of $423.87 billion, a price-to-earnings ratio of 49.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by insiders.

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.