Netflix, Inc. $NFLX Shares Acquired by CCM Investment Advisers LLC

CCM Investment Advisers LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,703 shares of the Internet television network’s stock after acquiring an additional 32,696 shares during the quarter. Netflix comprises about 2.3% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 12th biggest holding. CCM Investment Advisers LLC’s holdings in Netflix were worth $24,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Pacific Sun Financial Corp boosted its stake in Netflix by 1.6% during the third quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after buying an additional 9 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Netflix by 9.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after acquiring an additional 10 shares during the period. Monograph Wealth Advisors LLC lifted its holdings in Netflix by 1.8% in the 2nd quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock valued at $913,000 after acquiring an additional 12 shares during the last quarter. Resources Management Corp CT ADV boosted its position in shares of Netflix by 2.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock valued at $1,110,000 after purchasing an additional 16 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its stake in shares of Netflix by 1.4% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock worth $2,009,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays dropped their target price on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 17th. New Street Research raised their target price on shares of Netflix from $96.00 to $102.00 in a report on Friday, April 17th. China Renaissance lifted their price target on shares of Netflix from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Wells Fargo & Company set a $80.00 price target on Netflix and gave the company an “equal weight” rating in a report on Friday, July 17th. Finally, Sanford C. Bernstein set a $95.00 price objective on Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.48.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 9,253 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $88.95, for a total value of $823,054.35. Following the completion of the transaction, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the transaction, the chief executive officer owned 284,804 shares in the company, valued at approximately $25,054,207.88. The trade was a 8.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 492,289 shares of company stock worth $42,186,530. 1.24% of the stock is currently owned by insiders.

Netflix Price Performance

NFLX stock opened at $73.17 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71. The firm has a market capitalization of $304.68 billion, a PE ratio of 23.03, a P/E/G ratio of 0.92 and a beta of 1.52. The firm has a 50-day moving average of $77.00 and a two-hundred day moving average of $85.50.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The business had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix signed a reported $500 million global licensing agreement for “The Walking Dead” universe. The deal could support viewing engagement, subscriber retention and advertising revenue, although the content cost will weigh on near-term economics. Netflix lands global streaming deal for The Walking Dead
• Positive Sentiment: Netflix’s selective push into live programming is attracting subscribers and boosting engagement and advertising opportunities. The reported agreement to carry the 2027 FIFA Women’s World Cup in the United States and Canada could strengthen its live-content strategy, though the rights reportedly cost about $200 million. Netflix’s Live Content Push
• Positive Sentiment: Streaming continues to gain share of television viewing, and one analyst publicly recommended Netflix as an investment idea, offering some support for the long-term growth case. Netflix on CNBC’s Final Trades

Netflix Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.