Turtle Creek Wealth Advisors LLC Purchases Shares of 2,183 Netflix, Inc. $NFLX

Key Points

• Turtle Creek Wealth Advisors LLC acquired 2,183 shares of Netflix, valued at approximately $2,923,000, in the second quarter of the year.
• Netflix's latest quarterly earnings report showed an EPS of $7.19, beating estimates and reflecting a 15.9% increase in revenue compared to the previous year.
• Analysts have set a consensus target price of $1,337.63 for Netflix, with several brokerages maintaining a "buy" rating despite a recent stock price dip of 1.0%.

Turtle Creek Wealth Advisors LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,183 shares of the Internet television network's stock, valued at approximately $2,923,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. WealthPlan Investment Management LLC increased its holdings in shares of Netflix by 5.6% in the second quarter. WealthPlan Investment Management LLC now owns 1,846 shares of the Internet television network's stock valued at $2,472,000 after purchasing an additional 98 shares during the period. Bridges Investment Management Inc. acquired a new position in shares of Netflix in the second quarter valued at about $260,000. Callahan Advisors LLC increased its holdings in shares of Netflix by 24.4% in the second quarter. Callahan Advisors LLC now owns 438 shares of the Internet television network's stock valued at $587,000 after purchasing an additional 86 shares during the period. Rheos Capital Works Inc. increased its holdings in shares of Netflix by 119.5% in the second quarter. Rheos Capital Works Inc. now owns 116,800 shares of the Internet television network's stock valued at $156,410,000 after purchasing an additional 63,600 shares during the period. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of Netflix by 14.5% in the second quarter. Duncker Streett & Co. Inc. now owns 1,379 shares of the Internet television network's stock valued at $1,847,000 after purchasing an additional 175 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 1.0%

Shares of NFLX opened at $1,203.29 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The stock's 50 day moving average is $1,213.65 and its two-hundred day moving average is $1,172.31. The firm has a market cap of $511.31 billion, a P/E ratio of 51.27, a PEG ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the company earned $4.88 earnings per share. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFLX. Rosenblatt Securities increased their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a report on Friday, July 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Barclays reaffirmed a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. The Goldman Sachs Group dropped their target price on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating on the stock in a report on Tuesday, September 30th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus target price of $1,337.63.

Insider Buying and Selling

In other news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company's stock, valued at $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,327,734.41. This represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 in the last 90 days. Corporate insiders own 1.37% 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.

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