5 Best Streaming Stocks to Buy Now

2. Netflix, Inc. (NASDAQ: NFLX)

Number of Hedge Fund Holders: 116
Total Value of Hedge Fund Holdings: $15.6 Billion

Ranking 2nd in our list of 10 best streaming stocks to buy now is Netflix, Inc. (NASDAQ:NFLX). The Delaware-based content platform and production company Netflix, Inc. was founded in 1997 and has grown its user base to over 207.64 million paying subscribers.

Netflix, Inc. (NASDAQ:NFLX) has a market cap of $225.7 billion. Netflix, Inc’s revenue in 2020 came in at $2.76 billion. Shares of NFLX jumped 18% over the past twelve months. In April, Cowen analyst John Blackledge retained an Outperform ranking in NFLX and lowered the price target to $650.00.

There were 116 hedge funds that reported owning stakes in Netflix, Inc. at the end of the fourth quarter. The total value of these stakes at the end of Q4 is $15.6 billion.

Our calculations show that Netflix, Inc. (NASDAQ: NFLX) ranks 14th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Miller Value Partners, in their Q4 2020 Investor Letter, said Netflix, Inc. (NASDAQ: NFLX) was added in their portfolio in the fourth quarter of 2020. Here is what Miller Value Partners has to say about Netflix, Inc. in their letter:

“Lastly, we added a small position to Netflix after the disappointment following 3Q results. Overall, it’s getting more difficult to find investment opportunities in the very high growth areas that meet our standards for attractive value. On the other hand, we continue to find opportunities in more value-oriented areas of the market. We would expect the portfolio to migrate in this direction.”