CCG Wealth Management LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

CCG Wealth Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 288 shares of the Internet television network’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in Netflix in the fourth quarter valued at $32,000. Trust Co. of Vermont increased its stake in shares of Netflix by 24.1% during the fourth quarter. Trust Co. of Vermont now owns 463 shares of the Internet television network’s stock worth $225,000 after acquiring an additional 90 shares during the period. Bath Savings Trust Co acquired a new position in shares of Netflix during the first quarter worth about $206,000. Ferguson Wellman Capital Management Inc. increased its stake in shares of Netflix by 5.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 599 shares of the Internet television network’s stock worth $364,000 after acquiring an additional 32 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Netflix by 7.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,191 shares of the Internet television network’s stock worth $723,000 after acquiring an additional 86 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. 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 a total of 225,167 shares of company stock worth $150,492,460 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NFLX shares. Loop Capital boosted their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Rosenblatt Securities restated a “neutral” rating and set a $635.00 target price on shares of Netflix in a research report on Friday, September 20th. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Redburn Atlantic upped their target price on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Oppenheimer upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Price Performance

Shares of Netflix stock opened at $705.98 on Wednesday. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00. The stock has a market capitalization of $304.28 billion, a P/E ratio of 48.99, a PEG ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $690.82 and its 200 day moving average price is $653.04.

Netflix (NASDAQ:NFLX) last issued 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. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.