PNC Financial Services Group Inc. Sells 4,068 Shares of Netflix, Inc. (NASDAQ:NFLX)

PNC Financial Services Group Inc. trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,413 shares of the Internet television network’s stock after selling 4,068 shares during the period. PNC Financial Services Group Inc.’s holdings in Netflix were worth $113,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Denver PWM LLC bought a new stake in shares of Netflix during the 2nd quarter valued at $25,000. Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC grew its stake in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter valued at $37,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $26,975,430. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,277 shares of company stock valued at $132,875,601. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $871.32 on Wednesday. The stock has a market cap of $372.45 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $874.49. The firm has a 50-day moving average of $743.15 and a two-hundred day moving average of $685.41.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Pivotal Research raised their target price on shares of Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Bank of America lifted their price objective on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $753.45.

About Netflix

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.