Netflix, Inc. $NFLX is CCM Investment Advisers LLC's 7th Largest Position

Key Points

• CCM Investment Advisers LLC reduced its stake in Netflix by 2.4%, making it the firm's 7th largest holding valued at approximately $27.5 million.
• Netflix's latest quarterly earnings indicate a revenue growth of 15.9% year-over-year, with earnings per share surpassing analyst estimates.
• Wall Street analysts remain optimistic about Netflix, with a consensus target price of $1,328.87 and a significant proportion recommending a "Buy" rating.

CCM Investment Advisers LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,547 shares of the Internet television network's stock after selling 509 shares during the quarter. Netflix comprises approximately 3.0% of CCM Investment Advisers LLC's portfolio, making the stock its 7th biggest holding. CCM Investment Advisers LLC's holdings in Netflix were worth $27,515,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Ransom Advisory Ltd bought a new position in Netflix in the second quarter valued at $47,000. Flaharty Asset Management LLC purchased a new stake in Netflix during the first quarter valued at about $37,000. Copia Wealth Management purchased a new stake in Netflix during the fourth quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix during the first quarter worth about $42,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 0.7%

Shares of Netflix stock opened at $1,218.47 on Wednesday. Netflix, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. The firm has a market cap of $517.76 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 2.07 and a beta of 1.60. The company has a 50-day moving average of $1,210.96 and a 200 day moving average of $1,145.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NFLX shares. Bank of America increased their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. TD Cowen lifted their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. KeyCorp upped their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Loop Capital upgraded shares of Netflix from a "hold" rating to a "buy" rating and lifted their target price for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,328.87.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 25,959 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $475,837.74. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,728 shares of company stock worth $108,700,648 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix 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.

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