Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by CCM Investment Advisers LLC

CCM Investment Advisers LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,872 shares of the Internet television network’s stock after purchasing an additional 122 shares during the quarter. Netflix comprises approximately 2.1% of CCM Investment Advisers LLC’s portfolio, making the stock its 13th biggest position. CCM Investment Advisers LLC’s holdings in Netflix were worth $18,135,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NFLX. Valued Wealth Advisors LLC raised its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC raised its position in Netflix by 933.3% in the fourth 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 raised its position in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Netflix in the fourth quarter worth $32,000. Finally, Indiana Trust & Investment Management CO raised its position in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 0.6 %

Shares of Netflix stock traded up $3.59 during trading hours on Friday, reaching $633.94. The stock had a trading volume of 1,980,010 shares, compared to its average volume of 3,921,475. The firm has a 50 day simple moving average of $653.13 and a two-hundred day simple moving average of $616.45. The firm has a market capitalization of $273.23 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.95, a quick 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 $697.49.

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

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $36,114.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $36,114.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on 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 sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,218 shares of company stock worth $60,687,405. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Morgan Stanley raised their price target on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Wells Fargo & Company raised their price target on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Piper Sandler raised their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $681.21.

Netflix 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.