Pinnacle Wealth Management LLC Buys 1,647 Shares of Netflix, Inc. $NFLX

Key Points

• Pinnacle Wealth Management LLC increased its stake in Netflix by 441.6% in Q2, acquiring an additional 1,647 shares, bringing their total holdings to 2,020 shares worth approximately $2.7 million.
• CEO Gregory K. Peters and CEO Theodore A. Sarandos both sold 2,026 shares of Netflix in August, indicating a significant reduction in their positions.
• Analysts' ratings for Netflix vary, with the stock currently having an average rating of "Moderate Buy" and a price target of $1,339.81, as several firms adjust their positions based on recent performance updates.

Pinnacle Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 441.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,020 shares of the Internet television network's stock after acquiring an additional 1,647 shares during the quarter. Netflix makes up approximately 2.3% of Pinnacle Wealth Management LLC's holdings, making the stock its 17th biggest position. Pinnacle Wealth Management LLC's holdings in Netflix were worth $2,705,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stephens Consulting LLC grew its stake in shares of Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after acquiring an additional 15 shares during the period. Maseco LLP bought a new position in shares of Netflix during the 2nd quarter valued at approximately $39,000. Ransom Advisory Ltd bought a new position in shares of Netflix during the 2nd quarter valued at approximately $47,000. Flaharty Asset Management LLC bought a new position in shares of Netflix during the 1st quarter valued at approximately $37,000. Finally, Signature Resources Capital Management LLC grew its stake in shares of Netflix by 740.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network's stock valued at $56,000 after acquiring an additional 37 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,100 shares of company stock worth $122,710,980. Company insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NFLX shares. Wall Street Zen cut Netflix from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Pivotal Research reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Finally, Barclays reissued a "sell" rating and issued a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,339.81.

Netflix Stock Up 1.3%

Shares of NFLX opened at $1,199.36 on Friday. The stock has a market capitalization of $509.64 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 1 year low of $736.23 and a 1 year high of $1,341.15. The business's 50 day simple moving average is $1,213.47 and its 200-day simple moving average is $1,177.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.88 EPS. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.

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