Principal Securities Inc. Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Principal Securities Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,756 shares of the Internet television network’s stock, valued at approximately $2,316,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summa Corp. purchased a new stake in shares of Netflix during the fourth quarter worth approximately $439,000. Heritage Investors Management Corp lifted its stake in shares of Netflix by 3.7% in the 4th quarter. Heritage Investors Management Corp now owns 1,410 shares of the Internet television network’s stock worth $687,000 after acquiring an additional 50 shares during the period. US Asset Management LLC purchased a new stake in shares of Netflix in the fourth quarter valued at about $651,000. Wealthspire Advisors LLC increased its stake in shares of Netflix by 4.7% during the fourth quarter. Wealthspire Advisors LLC now owns 5,469 shares of the Internet television network’s stock worth $2,663,000 after acquiring an additional 247 shares during the period. Finally, Catalyst Financial Partners LLC raised its holdings in Netflix by 9.2% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,370 shares of the Internet television network’s stock worth $667,000 after purchasing an additional 115 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.2 %

Shares of NFLX stock traded down $1.22 during trading hours on Friday, hitting $610.87. 2,651,222 shares of the company were exchanged, compared to its average volume of 4,594,177. The firm has a market cap of $263.26 billion, a PE ratio of 42.39, a PEG ratio of 1.44 and a beta of 1.23. The firm has a fifty day moving average of $603.29 and a 200 day moving average of $532.72. Netflix, Inc. has a 1 year low of $329.61 and a 1 year high of $639.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLXGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 18.3 earnings per share for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Insiders have sold 78,039 shares of company stock worth $46,401,083 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Loop Capital boosted their target price on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. KeyCorp increased their target price on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Jefferies Financial Group boosted their price target on Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 12th. Wells Fargo & Company raised their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group boosted their target price on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $631.15.

Get Our Latest Analysis on NFLX

About Netflix

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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