Pitti Group Wealth Management LLC Sells 96 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pitti Group Wealth Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,551 shares of the Internet television network’s stock after selling 96 shares during the period. Netflix comprises approximately 2.3% of Pitti Group Wealth Management LLC’s holdings, making the stock its 10th largest holding. Pitti Group Wealth Management LLC’s holdings in Netflix were worth $2,274,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NFLX. Nordea Investment Management AB increased its holdings in shares of Netflix by 22.7% during the fourth 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. First National Trust Co grew its holdings in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the period. Haven Private LLC acquired a new position in shares of Netflix in the 4th quarter valued at $733,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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. Finally, Sigma Planning Corp boosted its position in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 3.1 %

NASDAQ:NFLX opened at $918.00 on Monday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. 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 cap of $392.68 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 2.12 and a beta of 1.38. The stock has a 50-day moving average price of $951.04 and a two-hundred day moving average price of $849.90.

Netflix (NASDAQ:NFLX) last posted its 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on NFLX shares. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Pivotal Research lifted their price objective on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Netflix in a research note on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,014.26.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. The trade was a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. Company insiders own 1.76% of the company’s stock.

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.