Pinnacle Wealth Management LLC Sells 2,090 Shares of Netflix, Inc. $NFLX

Key Points

• Pinnacle Wealth Management LLC reduced its stake in Netflix, Inc. by 84.9%, selling 2,090 shares and retaining only 373 shares, valued at approximately $348,000.
• Several institutional investors have increased their holdings in Netflix, with 80.93% of the stock currently owned by institutional investors.
• Insider sales included the CFO and CEO selling a combined total of over $5.7 million in Netflix stock in recent months, indicating a notable decrease in their ownership percentages.

Pinnacle Wealth Management LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 84.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 373 shares of the Internet television network's stock after selling 2,090 shares during the period. Pinnacle Wealth Management LLC's holdings in Netflix were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fullcircle Wealth LLC grew its holdings in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC grew its holdings in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the last quarter. Financial Enhancement Group LLC grew its holdings in shares of Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC grew its holdings in shares of Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock worth $179,443,809 in the last three months. 1.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. The Goldman Sachs Group increased their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Finally, Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Up 0.7%

NFLX stock opened at $1,238.95 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $1,231.23 and a two-hundred day moving average price of $1,103.91. The company has a market cap of $526.46 billion, a price-to-earnings ratio of 52.79, a P/E/G ratio of 2.09 and a beta of 1.59. Netflix, Inc. has a twelve month low of $660.80 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $4.88 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 EPS 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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