CCM Investment Advisers LLC Acquires 454 Shares of Netflix, Inc. (NASDAQ:NFLX)

CCM Investment Advisers LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,326 shares of the Internet television network’s stock after buying an additional 454 shares during the quarter. Netflix accounts for about 2.2% of CCM Investment Advisers LLC’s holdings, making the stock its 13th biggest holding. CCM Investment Advisers LLC’s holdings in Netflix were worth $19,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Grayhawk Investment Strategies Inc. acquired a new position in Netflix in the 4th quarter worth about $1,078,000. Public Sector Pension Investment Board increased its holdings in Netflix by 45.9% in the 4th quarter. Public Sector Pension Investment Board now owns 69,259 shares of the Internet television network’s stock worth $33,721,000 after purchasing an additional 21,790 shares in the last quarter. Profund Advisors LLC increased its holdings in Netflix by 15.4% in the 4th quarter. Profund Advisors LLC now owns 45,619 shares of the Internet television network’s stock worth $22,211,000 after purchasing an additional 6,080 shares in the last quarter. Ogborne Capital Management LLC increased its holdings in Netflix by 37.5% in the 4th quarter. Ogborne Capital Management LLC now owns 55,000 shares of the Internet television network’s stock worth $26,778,000 after purchasing an additional 15,000 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Netflix by 43.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 864,454 shares of the Internet television network’s stock worth $420,878,000 after purchasing an additional 262,822 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 0.4 %

Shares of NASDAQ:NFLX opened at $730.29 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $733.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day simple moving average is $684.42 and its two-hundred day simple moving average is $650.52. The firm has a market cap of $313.42 billion, a P/E ratio of 45.64, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share 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 analyst estimates of $9.53 billion. During the same quarter last year, the company earned $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NFLX shares. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. UBS Group increased their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and increased their price target for the company from $650.00 to $800.00 in a research note on Monday. Argus increased their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Bank of America increased their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $697.35.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

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.