TrueWealth Advisors LLC Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

TrueWealth Advisors LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 405 shares of the Internet television network’s stock, valued at approximately $273,000.

A number of other large investors also recently bought and sold shares of the company. Malaga Cove Capital LLC lifted its holdings in shares of Netflix by 25.4% in the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of Netflix by 8.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock worth $1,847,000 after purchasing an additional 284 shares during the last quarter. LGT Fund Management Co Ltd. lifted its holdings in shares of Netflix by 5.5% in the 4th quarter. LGT Fund Management Co Ltd. now owns 5,766 shares of the Internet television network’s stock worth $2,828,000 after purchasing an additional 300 shares during the last quarter. Lincoln National Corp lifted its holdings in shares of Netflix by 4.9% in the 4th quarter. Lincoln National Corp now owns 8,115 shares of the Internet television network’s stock worth $3,951,000 after purchasing an additional 379 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of Netflix in the 1st quarter worth approximately $9,682,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,700 shares of company stock valued at $98,283,982. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

NFLX has been the topic of several recent research reports. CICC Research initiated coverage on Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. Citigroup raised their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Redburn Atlantic raised their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Argus raised their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Wedbush restated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $681.21.

Netflix Stock Down 0.3 %

Shares of NFLX traded down $2.23 during mid-day trading on Friday, reaching $686.73. The company’s stock had a trading volume of 2,354,450 shares, compared to its average volume of 3,870,180. The business has a fifty day moving average of $658.35 and a 200 day moving average of $625.63. The company has a market cap of $295.98 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33.

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

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.