CCM Investment Advisers LLC Boosts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

CCM Investment Advisers LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,872 shares of the Internet television network’s stock after purchasing an additional 122 shares during the quarter. Netflix accounts for 2.1% of CCM Investment Advisers LLC’s portfolio, making the stock its 13th largest position. CCM Investment Advisers LLC’s holdings in Netflix were worth $18,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Valued Wealth Advisors LLC boosted its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Netflix during the 4th quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock traded up $3.59 on Friday, hitting $633.94. 1,980,010 shares of the stock traded hands, compared to its average volume of 3,921,475. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $273.23 billion, a PE ratio of 43.54, a PEG ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49. The company’s fifty day moving average is $653.13 and its 200 day moving average is $616.45.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $9.53 billion. During the same period last year, the business posted $3.29 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold a total of 95,218 shares of company stock valued at $60,687,405 over the last three months. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Benchmark increased their target price 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. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Tuesday, July 30th. Finally, UBS Group lifted their price target on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $681.21.

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.