CCM Investment Advisers LLC Sells 4,598 Shares of Netflix, Inc. (NASDAQ:NFLX)

CCM Investment Advisers LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,056 shares of the Internet television network’s stock after selling 4,598 shares during the period. Netflix makes up approximately 2.4% of CCM Investment Advisers LLC’s portfolio, making the stock its 10th biggest position. CCM Investment Advisers LLC’s holdings in Netflix were worth $19,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Pathway Financial Advisers LLC raised its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the fourth quarter worth approximately $32,000. Copia Wealth Management acquired a new position in shares of Netflix in the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,215.03 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average of $1,113.54 and a 200-day moving average of $996.91. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The company has a market cap of $517.08 billion, a P/E ratio of 61.27, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the company earned $8.28 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NFLX shares. Bank of America boosted their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Evercore ISI reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Oppenheimer upped their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their price objective on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, Morgan Stanley upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,156.73.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by company insiders.

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.