Principal Financial Group Inc. Has $1.20 Billion Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Principal Financial Group Inc. raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 13.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,692,563 shares of the Internet television network’s stock after buying an additional 198,148 shares during the quarter. Principal Financial Group Inc.’s holdings in Netflix were worth $1,200,485,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the last quarter. M&G Plc acquired a new position in shares of Netflix during the first quarter valued at about $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the period. Forsta AP Fonden increased its stake in Netflix by 7.7% during the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after acquiring an additional 8,700 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in Netflix in the 1st quarter valued at approximately $1,304,000. 80.93% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

NFLX opened at $780.21 on Thursday. 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 company has a market capitalization of $333.51 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The business has a fifty day simple moving average of $717.59 and a 200 day simple moving average of $667.98. Netflix, Inc. has a 1 year low of $431.00 and a 1 year high of $781.49.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFLX. Benchmark reiterated a “sell” rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wedbush upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Oppenheimer lifted their price target on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Guggenheim upped their price objective on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

About Netflix

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.