Geode Capital Management LLC Has $9.31 Billion Stock Position in Netflix, Inc. $NFLX

Key Points

• Geode Capital Management dramatically increased its Netflix stake by 892% in the fourth quarter, ending with about 99.6 million shares valued at roughly $9.31 billion.
• Other major institutional investors also boosted their Netflix holdings sharply, and institutions and hedge funds now own 80.93% of the company’s stock.
• Netflix reported better-than-expected quarterly earnings, with EPS of $1.23 versus a $0.76 estimate, though analysts remain cautious overall with a consensus rating of Moderate Buy and a target price of $114.82.

Geode Capital Management LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 892.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,598,678 shares of the Internet television network's stock after purchasing an additional 89,558,684 shares during the period. Netflix makes up 0.6% of Geode Capital Management LLC's investment portfolio, making the stock its 20th biggest holding. Geode Capital Management LLC owned about 2.36% of Netflix worth $9,305,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock worth $36,567,805,000 after buying an additional 351,493,659 shares during the period. Baillie Gifford & Co. boosted its holdings in Netflix by 912.3% in the 4th quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock worth $3,463,498,000 after buying an additional 33,290,988 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 639.9% in the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network's stock worth $3,269,594,000 after buying an additional 30,158,900 shares during the period. Legal & General Group Plc boosted its holdings in Netflix by 916.1% in the 4th quarter. Legal & General Group Plc now owns 26,522,252 shares of the Internet television network's stock worth $2,486,726,000 after buying an additional 23,912,151 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Netflix by 907.5% in the 4th quarter. Fisher Asset Management LLC now owns 20,490,399 shares of the Internet television network's stock worth $1,921,180,000 after buying an additional 18,456,524 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NFLX shares. Rosenblatt Securities lowered their target price on shares of Netflix from $96.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, April 17th. Wells Fargo & Company started coverage on shares of Netflix in a research note on Monday, March 9th. They issued an "equal weight" rating and a $105.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $98.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, April 14th. Erste Group Bank cut shares of Netflix from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Moffett Nathanson raised their price objective on shares of Netflix from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $114.82.

Netflix Price Performance

NFLX stock opened at $87.35 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41. Netflix, Inc. has a 52 week low of $75.01 and a 52 week high of $134.12. The firm's fifty day moving average is $93.45 and its 200 day moving average is $93.59. The firm has a market cap of $367.81 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.11 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS 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 company had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.17 billion. During the same quarter last year, the firm earned $6.61 EPS. The firm's quarterly revenue was up 16.2% compared to the same quarter last year. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Research analysts predict that Netflix, Inc. will post 3.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the sale, the chief executive officer owned 120,931 shares of the company's stock, valued at approximately $10,725,370.39. The trade was a 18.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. The trade was a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,422,769 shares of company stock worth $135,144,073. 1.24% of the stock is currently owned by insiders.

Netflix 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.