Cim Investment Management Inc. Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cim Investment Management Inc. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,169 shares of the Internet television network’s stock after selling 18 shares during the quarter. Netflix comprises about 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Cim Investment Management Inc.’s holdings in Netflix were worth $2,139,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NFLX. Denver PWM LLC purchased a new position in Netflix during the 2nd quarter worth $25,000. Valued Wealth Advisors LLC increased its stake in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC raised its holdings in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Netflix during the 4th quarter worth approximately $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Guggenheim raised their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Redburn Atlantic increased their price target on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Citigroup boosted their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Sanford C. Bernstein lifted their price target on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of Netflix 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 sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at $25,564,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,020 shares of company stock valued at $133,334,342. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $707.35 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $725.26. The company has a 50 day moving average of $669.62 and a two-hundred day moving average of $644.43. The company has a market cap of $304.87 billion, a P/E ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping 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 analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 19.08 earnings per share 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.