Geode Capital Management LLC Buys 89,558,684 Shares of Netflix, Inc. $NFLX

Geode Capital Management LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 892.0% in the fourth quarter, HoldingsChannel reports. The fund owned 99,598,678 shares of the Internet television network’s stock after acquiring an additional 89,558,684 shares during the period. Netflix accounts for 0.6% of Geode Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Geode Capital Management LLC’s holdings in Netflix were worth $9,305,336,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Apriem Advisors lifted its holdings in shares of Netflix by 0.6% during the third quarter. Apriem Advisors now owns 1,567 shares of the Internet television network’s stock valued at $1,879,000 after purchasing an additional 9 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Netflix by 10.8% during the third quarter. Tortoise Investment Management LLC now owns 92 shares of the Internet television network’s stock valued at $110,000 after purchasing an additional 9 shares during the last quarter. Brass Tax Wealth Management Inc. lifted its holdings in shares of Netflix by 3.2% during the third quarter. Brass Tax Wealth Management Inc. now owns 288 shares of the Internet television network’s stock valued at $345,000 after purchasing an additional 9 shares during the last quarter. Pacific Sun Financial Corp lifted its holdings in shares of Netflix by 1.6% during the third quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after purchasing an additional 9 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC lifted its holdings in shares of Netflix by 0.6% during the third quarter. Carl P. Sherr & Co. LLC now owns 1,715 shares of the Internet television network’s stock valued at $2,056,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.4%

NFLX opened at $87.35 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $93.45 and a 200-day moving average price of $93.59. Netflix, Inc. has a twelve month low of $75.01 and a twelve month high of $134.12. The stock has a market capitalization of $367.81 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.11 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The firm had revenue of $12.25 billion during the quarter, compared to analysts’ expectations of $12.17 billion. During the same period in the previous year, the company earned $6.61 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Equities research analysts forecast that Netflix, Inc. will post 3.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $115.00 target price (up from $103.00) on shares of Netflix in a report on Friday, April 17th. TD Cowen reiterated a “buy” rating on shares of Netflix in a report on Thursday, May 14th. Bank of America reiterated a “buy” rating and set a $125.00 target price on shares of Netflix in a report on Monday, May 18th. Wells Fargo & Company started coverage on shares of Netflix in a report on Monday, March 9th. They set an “equal weight” rating and a $105.00 target price for the company. Finally, DZ Bank reaffirmed a “buy” rating on shares of Netflix in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.82.

Insider Activity at Netflix

In related news, Director Reed Hastings sold 407,550 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.13, for a total transaction of $37,955,131.50. Following the completion of the sale, the director directly owned 3,940 shares in the company, valued at approximately $366,932.20. The trade was a 99.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,722 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the sale, the insider owned 316,100 shares of the company’s stock, valued at $27,842,088. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,422,769 shares of company stock valued at $135,144,073 in the last three months. Corporate insiders own 1.24% of the company’s stock.

Netflix Company Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.