Coatue Management 13F: Cuts Netflix (NFLX) Stake by $286M

Coatue Management has significantly reduced its stake in Netflix, Inc. (NasdaqGS: NFLX), cutting 3,967,795 shares according to its latest 13F filing with the SEC. This reduction, amounting to a 36.5% decrease, leaves Coatue with 6,893,560 shares valued at approximately $550.3 million as of the reporting period ending March 31, 2026.

What Changed in Coatue Management's Netflix Position

Coatue Management's recent move saw its Netflix holdings fall from 10,861,355 shares to 6,893,560 shares, a decrease of 3,967,795 shares. This reduction represents a significant 36.5% cut in its position, reflecting a strategic adjustment in its investment portfolio.

Other Institutional Activity in Netflix

Other major institutional investors also adjusted their positions in Netflix. BlackRock, Inc. reduced its holdings by 1,897,788 shares, maintaining 346,247,929 shares valued at about $33.3 billion. Vanguard Capital Management LLC made a notable addition, acquiring 274,400,652 shares, now holding the same amount valued at $26.4 billion. FMR LLC increased its holdings by 8,821,126 shares, ending with 204,650,883 shares worth approximately $19.7 billion. State Street Corp trimmed its position by 5,126,233 shares, holding 171,654,762 shares valued at $16.5 billion. Geode Capital Management, LLC also added 3,929,908 shares, bringing its total to 103,528,586 shares valued at nearly $9.9 billion.

Netflix, Inc. Stock Up 2.3%

Shares of NasdaqGS:NFLX traded near $79.83 recently. Netflix has a market cap of $338.3 billion and a P/E ratio of 25.92. The stock's 52-week range is between $75.01 and $134.12, with a 50-day moving average of $91.15 and a 200-day moving average of $99.42. Its current ratio is 1.41, and it has a debt-to-equity ratio of 53.79.

Recent Earnings

In its recent earnings report, Netflix posted revenue of $46.9 billion with a growth rate of 16.2%. The company achieved a net margin of 28.52% and a return on equity of 48.49%. Earnings per share stood at $3.10. Netflix is expected to announce its next earnings on April 16, 2026.

Insider Buying and Selling at Netflix, Inc.

Insider activity at Netflix included Reed Hastings selling 386,700 shares on June 1, 2026. On the same day, Bradford Smith and Jeffrey William Karbowski, among others, bought 728 shares each. These transactions were not part of any pre-arranged trading plans.

Analysts Set New Price Targets

On April 17, 2026, Piper Sandler maintained a "buy" rating on Netflix with a price target of $115. Oppenheimer also kept its "buy" rating, setting a target of $120. Barclays maintained a "hold" rating with a $110 target. Rosenblatt set a "hold" rating with a $95 target. Overall, analysts have a consensus "buy" recommendation with a mean target price of $114.15.

About Netflix, Inc.

Netflix, Inc., headquartered in Los Gatos, California, is a leading provider of entertainment services globally. The company offers a wide range of content, including TV series, films, documentaries, and games, accessible across various internet-connected devices. Under the leadership of CEO Theodore A. Sarandos, Netflix employs around 16,000 people, continuously expanding its international reach and content library.

Bottom Line

Coatue Management's recent reduction in Netflix shares is a notable adjustment in its portfolio, reflecting strategic investment decisions. Investors often track such filings to gauge institutional sentiment, although these positions are backward-looking and may not represent current holdings. Netflix remains a significant player in the entertainment sector, with ongoing interest from both institutional investors and analysts.