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

CCM Investment Advisers LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,654 shares of the Internet television network’s stock after selling 1,672 shares during the period. Netflix makes up 2.5% of CCM Investment Advisers LLC’s portfolio, making the stock its 9th biggest position. CCM Investment Advisers LLC’s holdings in Netflix were worth $22,866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the 3rd quarter worth $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the third quarter valued at $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 4.2 %

Shares of NFLX stock traded down $36.51 during trading hours on Friday, reaching $838.49. 2,006,502 shares of the stock were exchanged, compared to its average volume of 2,612,148. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $475.26 and a 12-month high of $941.75. The firm has a market capitalization of $358.42 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company’s 50-day moving average price is $876.43 and its 200-day moving average price is $751.52.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Bank of America lifted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on shares of Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $824.00.

Insider Activity

In related news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by company insiders.

About Netflix

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.