5 Best Streaming Service Stocks To Buy

4. Netflix, Inc. (NASDAQ:NFLX)

Number of Hedge Fund Holders: 89

Netflix, Inc. (NASDAQ:NFLX), headquartered in Los Gatos, California, is a leading provider of streaming entertainment services, boasting a vast subscriber base of over 260 million paid memberships spanning across more than 190 countries. The company offers an extensive library of films and television series, including both licensed content and original productions.

In its Q4 2023 financial report released on January 23, Netflix reported robust performance metrics. The company achieved a revenue of $8.8 billion, indicating nearly 12% year-over-year growth, accompanied by a net income of $938 million. Impressively, Netflix, Inc. (NASDAQ:NFLX) added 13.1 million new paid members during the quarter, marking a growth rate of nearly 13%.

As of the end of the fourth quarter of 2023, 89 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Netflix Inc (NASDAQ:NFLX). The most notable stake in Netflix Inc (NASDAQ:NFLX) is owned by Ken Fisher’s Fisher Asset Management which owns a $2 billion stake in Netflix Inc (NASDAQ:NFLX).

Sequoia Fund stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its fourth quarter 2023 investor letter:

“Exits last year included Netflix, Inc. (NASDAQ:NFLX), Bank of America and Micron. We opportunistically added to our Netflix position in late 2022, near what turned out to be the lows. We sold our shares in stages over the course of last year as the stock price recovered and the valuation of the business rose dramatically.”