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

CCM Investment Advisers LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,056 shares of the Internet television network's stock after selling 4,598 shares during the period. Netflix makes up about 2.4% of CCM Investment Advisers LLC's investment 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 quarter.

Several other large investors have also bought and sold shares of NFLX. Stanley Laman Group Ltd. raised its holdings in Netflix by 9.1% in the first quarter. Stanley Laman Group Ltd. now owns 1,212 shares of the Internet television network's stock worth $1,130,000 after purchasing an additional 101 shares during the period. Everhart Financial Group Inc. raised its holdings in Netflix by 5.4% in the first quarter. Everhart Financial Group Inc. now owns 3,437 shares of the Internet television network's stock worth $3,205,000 after purchasing an additional 176 shares during the period. Bensler LLC raised its holdings in Netflix by 9.4% in the first quarter. Bensler LLC now owns 17,789 shares of the Internet television network's stock worth $16,589,000 after purchasing an additional 1,522 shares during the period. Crowley Wealth Management Inc. raised its holdings in Netflix by 3.8% in the first quarter. Crowley Wealth Management Inc. now owns 409 shares of the Internet television network's stock worth $381,000 after purchasing an additional 15 shares during the period. Finally, Smithbridge Asset Management Inc. DE bought a new stake in shares of Netflix during the first quarter worth $9,404,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NFLX. Bank of America increased their price objective 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. UBS Group increased their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Robert W. Baird increased their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Eleven equities research 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,156.73.

Netflix Stock Performance

Shares of NFLX traded down $2.88 during midday trading on Friday, reaching $1,212.15. The stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,763,911. The firm has a 50 day simple moving average of $1,113.54 and a 200-day simple 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 firm has a market cap of $515.86 billion, a PE ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the firm posted $8.28 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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.