Truvestments Capital LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Truvestments Capital LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the 4th quarter, HoldingsChannel reports. The firm owned 356 shares of the Internet television network’s stock after buying an additional 17 shares during the quarter. Truvestments Capital LLC’s holdings in Netflix were worth $317,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Wellington Management Group LLP increased its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Netflix by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after purchasing an additional 45,507 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFLX. The Goldman Sachs Group raised their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, UBS Group restated a “buy” rating on shares of Netflix in a research note on Monday. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Netflix Stock Performance

NFLX opened at $919.68 on Thursday. The firm has a market cap of $393.40 billion, a P/E ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a 50 day simple moving average of $950.23 and a two-hundred day simple moving average of $845.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.11 earnings per share. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by insiders.

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.