Principal Financial Group Inc. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Principal Financial Group Inc. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,590,298 shares of the Internet television network’s stock after selling 102,265 shares during the quarter. Netflix comprises about 0.8% of Principal Financial Group Inc.’s investment portfolio, making the stock its 23rd biggest position. Principal Financial Group Inc. owned 0.37% of Netflix worth $1,417,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp increased its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC increased its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of 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 stock has a market cap of $452.83 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 2.11 and a beta of 1.27. The stock’s 50 day moving average price is $929.40 and its 200 day moving average price is $805.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,809 shares of company stock valued at $290,374,484. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.