Principal Financial Group Inc. Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Principal Financial Group Inc. grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,692,563 shares of the Internet television network’s stock after purchasing an additional 198,148 shares during the quarter. Principal Financial Group Inc. owned 0.40% of Netflix worth $1,200,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc raised its holdings in Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after acquiring an additional 83,762 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $780.21 on Thursday. Netflix, Inc. has a fifty-two week low of $431.00 and a fifty-two week high of $781.49. The stock’s 50-day moving average is $717.59 and its two-hundred day moving average is $667.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $333.51 billion, a P/E ratio of 44.15, a PEG ratio of 1.46 and a beta of 1.25.

Insider Buying and Selling

In other news, insider David A. Hyman sold 13,791 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 13,791 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,112 shares of company stock worth $169,954,456. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NFLX shares. Guggenheim increased their price target on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Benchmark reissued a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Finally, Barclays reaffirmed an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

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.