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4/13/15: A Netflix stock split may be coming as soon as June 9, 2015, when Netflix Inc. (Nasdaq: NFLX) will hold its annual meeting.
In a regulatory filing Friday, Netflix officials proposed increasing the number of NFLX shares authorized from 170 million to 5 billion. Netflix previously had a two-for-one held a stock split in 2004.
Shares climbed 3.4% following the news Friday. NFLX stock jumped another 5% on Monday morning after UBS upgraded its rating from “Neutral” to “Buy” and set a price target of $565. NFLX shares hit an intraday high of $485.00 Monday.
NFLX is now up 39.6% in 2015. That compares to gains of just 1.4% for the Dow Jones Industrial Average and 2.2% for the S&P 500.