Netflix, Inc. $NFLX Shares Acquired by Jennison Associates LLC

Key Points

• Jennison Associates raised its Netflix position by 639.9% in Q4, buying 30,158,900 shares to hold 34,871,951 shares (~0.83% of Netflix) worth about $3.27 billion, making NFLX its 12th largest holding.
• Multiple large institutions also materially increased stakes in Q4 (e.g., Vanguard to 390,014,981 shares; Baillie Gifford to 36,940,035), leaving institutional investors with roughly 80.93% ownership of the company.
• Netflix beat quarterly estimates (EPS $1.23 vs. $0.76) with 16.2% revenue growth and the board approved an additional $25 billion buyback, while analysts' consensus is a "Moderate Buy" with an average target of $114.82.

Jennison Associates LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 639.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,871,951 shares of the Internet television network's stock after buying an additional 30,158,900 shares during the period. Netflix comprises 2.0% of Jennison Associates LLC's portfolio, making the stock its 12th largest holding. Jennison Associates LLC owned approximately 0.83% of Netflix worth $3,269,594,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NFLX. Vanguard Group Inc. increased its position in Netflix by 912.5% during the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock worth $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. Baillie Gifford & Co. increased its position in Netflix by 912.3% during the fourth quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock worth $3,463,498,000 after purchasing an additional 33,290,988 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Netflix by 891.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,099,908 shares of the Internet television network's stock worth $1,134,487,000 after purchasing an additional 10,879,276 shares during the last quarter. Nordea Investment Management AB increased its position in Netflix by 886.6% during the fourth quarter. Nordea Investment Management AB now owns 9,667,997 shares of the Internet television network's stock worth $902,798,000 after purchasing an additional 8,688,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Netflix by 983.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,234,314 shares of the Internet television network's stock worth $584,529,000 after purchasing an additional 5,658,740 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NFLX. China Renaissance upped their price target on shares of Netflix from $90.00 to $100.00 and gave the stock a "hold" rating in a research report on Friday, April 17th. Canaccord Genuity Group set a $125.00 price target on shares of Netflix and gave the stock a "buy" rating in a research report on Wednesday, January 21st. HSBC upped their price target on shares of Netflix from $106.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Arete Research raised shares of Netflix from a "neutral" rating to a "buy" rating in a research report on Friday, February 27th. Finally, Citic Securities upped their price target on shares of Netflix from $95.00 to $107.00 and gave the stock a "hold" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.82.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Board-authorized buyback expansion — Netflix approved an additional $25 billion in share repurchases, increasing capital-return optionality and reducing float, which is a clear shareholder-friendly move that supports EPS and valuation. InsiderMonkey: Buyback Authorization
• Positive Sentiment: Mobile product push to boost engagement — Netflix is rolling out a TikTok-like vertical video feed (“Clips”) and other mobile UI changes to make discovery faster and increase time spent on phones, which could lift ad revenue and retention over time. Business Insider: Mobile Strategy
• Positive Sentiment: Analyst estimate nudges — Erste Group modestly raised FY2026 and FY2027 EPS forecasts, signaling some analyst confidence in Netflix’s ability to convert revenue growth into higher earnings. MarketBeat: Analyst Updates
• Neutral Sentiment: Longer-term content strategy — Coverage suggests live sports expansion remains a strategic lever to grow subscribers and revenue, but it’s execution- and capex-intensive and will affect margins differently over time. The Motley Fool: Live Sports
• Negative Sentiment: Shareholder activism increases scrutiny — Activist moves have put governance and valuation in focus, creating near-term uncertainty and potential for pressure on management and strategic decisions. Yahoo Finance: Shareholder Activism
• Negative Sentiment: Near-term margin concerns and PT cuts — Bernstein trimmed its price target citing margin pressures, signaling investor worry that content and expansion costs could weigh on profitability in the near term. Yahoo Finance: PT Cut
• Negative Sentiment: Investor disappointment after the update — Commentary and headlines pointing to the stock decline and investor disappointment following recent results/guidance are amplifying selling pressure despite the quarter’s top-line beat. The Motley Fool: Stock Falling

Netflix Price Performance

Netflix stock opened at $92.37 on Thursday. Netflix, Inc. has a 52-week low of $75.01 and a 52-week high of $134.12. The firm has a fifty day moving average of $94.48 and a 200-day moving average of $96.96. The firm has a market capitalization of $388.96 billion, a P/E ratio of 29.82, a PEG ratio of 1.19 and a beta of 1.67. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $12.17 billion. During the same quarter in the prior year, the business earned $6.61 earnings per share. The business'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. As a group, analysts predict that Netflix, Inc. will post 3.53 EPS for the current year.

Insider Buying and Selling

In other news, insider Cletus R. Willems sold 3,136 shares of the company's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $82.67, for a total value of $259,253.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 28,630 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $98.00, for a total transaction of $2,805,740.00. Following the completion of the transaction, the chief financial officer owned 73,787 shares of the company's stock, valued at $7,231,126. This trade represents a 27.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,382,013 shares of company stock valued at $127,482,296. 1.37% of the stock is owned by corporate insiders.

About Netflix

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.

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