SCS Capital Management LLC Boosts Holdings in Netflix, Inc. $NFLX

Key Points

• SCS Capital Management increased its Netflix stake by 1,017.1% in the fourth quarter, ending with 20,510 shares valued at about $1.9 million.
• Other major institutional investors also boosted holdings, including Vanguard and Geode Capital, and the article notes that 80.93% of Netflix is owned by hedge funds and other institutions.
• Recent insider activity included sales by David A. Hyman and CFO Spencer Adam Neumann, while analysts remain largely positive with an average rating of Moderate Buy and an average price target of $114.82.

SCS Capital Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,017.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,510 shares of the Internet television network's stock after purchasing an additional 18,674 shares during the period. SCS Capital Management LLC's holdings in Netflix were worth $1,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Netflix by 912.5% during the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock valued at $36,567,805,000 after acquiring an additional 351,493,659 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 892.0% during the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network's stock valued at $9,305,336,000 after acquiring an additional 89,558,684 shares during the period. Norges Bank purchased a new position in Netflix during the 4th quarter valued at about $5,803,248,000. Baillie Gifford & Co. lifted its position in Netflix by 912.3% during the 4th quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock valued at $3,463,498,000 after acquiring an additional 33,290,988 shares during the period. Finally, Jennison Associates LLC lifted its position in Netflix by 639.9% during the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network's stock valued at $3,269,594,000 after acquiring an additional 30,158,900 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 5,722 shares of Netflix stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total value of $503,993.76. Following the completion of the sale, the insider directly owned 316,100 shares in the company, valued at $27,842,088. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the sale, the chief financial officer owned 73,787 shares of the company's stock, valued at $6,563,353.65. This represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 926,329 shares of company stock valued at $87,071,177. Company insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NFLX. Bank of America reissued a "buy" rating and set a $125.00 price target on shares of Netflix in a research report on Monday, May 18th. President Capital lifted their price target on shares of Netflix from $133.00 to $134.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. New Street Research lifted their price target on shares of Netflix from $96.00 to $102.00 in a research report on Friday, April 17th. TD Cowen reissued a "buy" rating on shares of Netflix in a research report on Thursday, May 14th. Finally, Rosenblatt Securities lowered their price target on shares of Netflix from $96.00 to $95.00 and set a "neutral" rating for the company in a research 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 given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.82.

Netflix Stock Down 0.2%

Shares of Netflix stock opened at $85.85 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $361.50 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. Netflix, Inc. has a 52-week low of $75.01 and a 52-week high of $134.12. The company has a 50-day simple moving average of $93.00 and a two-hundred day simple moving average of $93.09.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results 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 business 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 business's revenue for the quarter was up 16.2% compared to the same quarter last year. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, analysts anticipate that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

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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