Sustainable Growth Advisers 13F: Cuts NFLX Stake by $110M

Sustainable Growth Advisers reduced its investment in Netflix, Inc. (NasdaqGS: NFLX) during the period, according to a Form 13F filing with the SEC on October 15, 2026. Because 13F filings look backward at a prior quarter, these numbers reflect positions held at that time and may not represent the fund's current holdings.

Inside Sustainable Growth Advisers's Netflix Trade

The firm trimmed its position by 1,575,944 shares, resulting in a 38.8% decrease from its previous count. Sustainable Growth Advisers ended the period with 2,486,816 shares of Netflix. The remaining stake carried a reported value of $173,032,657.

Other Institutional Activity in Netflix

Other major institutional investors made large adjustments to their Netflix holdings during the same reporting window. Blackrock Inc. grew its holdings by 2,527,574 shares, ending with 348,770,600 shares worth about $24,598,789,992. Vanguard Capital Management LLC grew its holdings by 631,110 shares, ending with 275,026,936 shares worth about $19,397,649,460. State Street Corporation grew its holdings by 8,479,513 shares, ending with 180,129,582 shares worth about $12,704,539,198 after a 4.9% increase. FMR, LLC reduced its holdings by 68,725,894 shares, ending with 135,937,268 shares worth about $9,587,655,346 following a 33.6% decrease. Invesco Ltd. grew its holdings by 3,957,011 shares, ending with 135,419,167 shares worth about $9,551,113,683 after a 3.0% increase.

Netflix, Inc. Stock Down 0.3%

Netflix recently traded around $70.34 as of October 16, 2026. The share price sits about 6.4% below its 50-day moving average of $75.16 and roughly 15.2% below its 200-day moving average of $83.00. The stock has traded between a 52-week low of $65.08 and a 52-week high of $124.86.

Recent Earnings

Netflix reported $48,370,765,824 in trailing-twelve-month revenue alongside trailing earnings per share of $3.18. The company posted a net profit margin of 28.2% and a return on equity of 49.5% for the period, with year-over-year revenue growth reaching 13.4%. Its next quarterly financial update is scheduled for October 20, 2026.

Insider Buying and Selling at Netflix, Inc.

Company insiders executed several stock sales prior to the filing. Chief Executive Officer Gregory K. Peters sold 27,312 shares on August 6, 2026, at an average price of $73.54 for a total of $2,008,606. Chief Financial Officer Spencer Adam Neumann sold 9,248 shares on August 10, 2026, at $75.79 per share, totaling $700,907. Director Richard N Barton sold 720 shares on September 8, 2026, at $77.60 for a total of $55,872, and later sold 1,440 shares on September 10, 2026, valued at $109,102.

Analysts Set New Price Targets

Wall Street analysts have maintained a range of views on the stock ahead of upcoming reports. On October 1, 2026, Guggenheim maintained its Buy rating with a target of $80.00, moving up from $75.00. On October 5, 2026, TD Cowen reiterated its Buy rating with a target of $100.00. On October 7, 2026, Barclays maintained an Equal-Weight rating while lowering its target from $80.00 to $70.00. On October 8, 2026, Morgan Stanley maintained its Overweight rating, adjusting its target from $83.00 to $80.00. On October 13, 2026, Keybanc maintained an Overweight rating, trimming its target from $92.00 to $85.00. Overall, the stock carries a consensus Buy rating from 45 analysts, with a mean price target of $91.95.

About Netflix, Inc.

Netflix provides subscription entertainment services, offering television series, documentaries, feature films, games, and live programming across various genres and languages. Members stream content through internet-connected devices including televisions, digital video players, set-top boxes, and mobile devices. Founded in 1997, the company is headquartered in Los Gatos, California.

Bottom Line

Investors will look toward the upcoming earnings release on October 20, 2026, for fresh signals on subscriber growth and profitability. Institutional filings offer a window into past fund allocations, though subsequent market moves may alter these positions. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.