Netflix, Inc. (NASDAQ:NFLX) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,590,298 shares of the Internet television network’s stock after selling 102,265 shares during the period. Netflix accounts for 0.8% of Principal Financial Group Inc.’s holdings, making the stock its 23rd biggest position. Principal Financial Group Inc.’s holdings in Netflix were worth $1,417,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC grew its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of 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 acquiring an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix during the 4th quarter valued at $34,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Netflix in the third quarter worth $37,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,809 shares of company stock valued at $290,374,484. 1.76% of the stock is currently owned by insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,058.60 on Monday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $452.83 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The firm has a 50-day moving average price of $929.40 and a 200 day moving average price of $805.29.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Evercore ISI upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Loop Capital upped their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.