Pitti Group Wealth Management LLC Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pitti Group Wealth Management LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,647 shares of the Internet television network’s stock after purchasing an additional 291 shares during the quarter. Netflix accounts for about 1.9% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 15th largest position. Pitti Group Wealth Management LLC’s holdings in Netflix were worth $1,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the period. Capital World Investors raised its stake in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Netflix by 1.8% during the 4th quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after purchasing an additional 72,807 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark raised their price objective on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Sunday. The Goldman Sachs Group boosted their price target on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Bank of America increased their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Down 0.1 %

Netflix stock opened at $696.50 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The company has a market capitalization of $300.19 billion, a P/E ratio of 48.33, a PEG ratio of 1.40 and a beta of 1.26. The stock has a 50-day simple moving average of $660.22 and a 200-day simple moving average of $638.54.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the business earned $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

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.