Principal Financial Group Inc. Sells 107,801 Shares of Netflix, Inc. (NASDAQ:NFLX)

Principal Financial Group Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,482,497 shares of the Internet television network's stock after selling 107,801 shares during the period. Netflix comprises about 0.8% of Principal Financial Group Inc.'s holdings, making the stock its 26th largest position. Principal Financial Group Inc. owned approximately 0.35% of Netflix worth $1,382,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Warwick Investment Management Inc. raised its holdings in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC lifted its position in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after buying an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after acquiring an additional 10 shares in the last quarter. Mission Creek Capital Partners Inc. boosted its stake in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. Finally, Continuum Wealth Advisors LLC increased its holdings in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after acquiring an additional 10 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. Guggenheim reiterated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Pivotal Research lifted their target price on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Macquarie boosted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. UBS Group upped their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Loop Capital reiterated a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Netflix Price Performance

NFLX stock traded up $10.38 during trading on Friday, hitting $1,295.24. The company had a trading volume of 2,006,224 shares, compared to its average volume of 3,761,661. The company has a fifty day moving average price of $1,204.00 and a two-hundred day moving average price of $1,034.00. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a market cap of $551.21 billion, a P/E ratio of 61.21, a P/E/G ratio of 2.48 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the company earned $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the transaction, the director owned 394 shares of the company's stock, valued at approximately $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company's stock.

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.