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

CCM Investment Advisers LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 25,654 shares of the Internet television network’s stock after selling 1,672 shares during the period. Netflix makes up approximately 2.5% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 9th largest position. CCM Investment Advisers LLC’s holdings in Netflix were worth $22,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp increased its position in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC raised its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Netflix during the 3rd quarter worth about $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. The trade was a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 over the last 90 days. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 4.2 %

Shares of NFLX stock traded down $36.51 during trading on Friday, hitting $838.49. 2,006,502 shares of the stock traded hands, compared to its average volume of 2,612,148. Netflix, Inc. has a 52-week low of $475.26 and a 52-week high of $941.75. The firm has a market capitalization of $358.42 billion, a P/E ratio of 47.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The firm’s fifty day moving average price is $876.43 and its 200-day moving average price is $751.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NFLX shares. Oppenheimer raised their price objective on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Sanford C. Bernstein raised their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wolfe Research restated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Barclays reissued an “underweight” rating and set a $550.00 target price on shares of Netflix in a report on Friday, October 18th. Finally, TD Cowen upped their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $824.00.

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.