Truvestments Capital LLC Invests $240,000 in Netflix, Inc. (NASDAQ:NFLX)

Truvestments Capital LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 339 shares of the Internet television network’s stock, valued at approximately $240,000.

Several other hedge funds have also modified their holdings of NFLX. Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% in the third 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 during the last quarter. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in 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 last quarter. Fisher Asset Management LLC boosted its stake in shares of Netflix by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after buying an additional 104,332 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

NASDAQ:NFLX opened at $865.59 on Tuesday. The firm has a 50-day moving average of $758.78 and a two-hundred day moving average of $693.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $370.00 billion, a P/E ratio of 48.99, a PEG ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NFLX. Loop Capital upped their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Pivotal Research raised their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Two 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’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock valued at $133,393,921 in the last three months. Corporate insiders own 1.76% of the company’s stock.

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.