Netflix took a page from Apple’s playbook Tuesday by announcing a seven-for-one stock split.

Stock of the self-styled leading Internet television network ended regular trading at $681.19 per share, up 0.9 percent on the day.

News of the split, announced after the close, sent the stock up another 2.6 percent in after-market trading to $699.

Netflix said it will issue six additional shares on July 14 to stockholders of record on July 2. The stock will then begin trading on a post-split basis on July 15.

In April 2014, Apple announced a seven-for-one split and the stock closed at $524.75 per share. Shares also got a boost from the move, rising 8.2 percent in overnight trading to open at $568.21 the next morning.

While splits don’t technically change a company’s fundamentals, a high-priced stock will often experience an increase as its post-split price makes it accessible to a bigger universe of investors.