ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. The Strategy delivered gains across eight of the nine sectors in which it was invested (out of 11 total), with the information technology (IT) and industrials sectors the primary contributors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Global Growth Strategy, in its Q4 2021 investor letter, mentioned Netflix, Inc. (NASDAQ:NFLX) and discussed its stance on the firm. Founded in 1997, Netflix, Inc. (NASDAQ:NFLX) is a Los Gatos, California-based production company with a $168.8 billion market capitalization, and is currently spearheaded by its CEOs, Reed Hastings and Ted Sarandos. Netflix, Inc. (NASDAQ:NFLX) delivered a -38.01% return since the beginning of the year, while its 12-month returns are down by -30.76%. The stock closed at $373.47 per share on April 01, 2022.
Here is what ClearBridge Investments Global Growth Strategy has to say about Netflix, Inc. (NASDAQ:NFLX) in its Q4 2021 investor letter:
“We were quite active during the quarter, leveraging volatility to add 10 new names to the portfolio while exiting seven others. Among our new purchases was Netflix in the communication services sector. Netflix is the global leader in the production and distribution of streaming entertainment, operating a high-quality subscription business with room for continued growth in a large addressable market. The stock has faced headwinds due to concerns around subscriber growth. We attribute this recent weakness to COVID-related production delays that have slowed the pace of new shows premiering on the platform and believe Netflix has a strategic advantage in scaling its business given its large content library and lead versus peers in establishing local content studios and partnerships.”
Photo by Thibault Penin on Unsplash
Our calculations show that Netflix, Inc. (NASDAQ:NFLX) ranks 10th on our list of the 30 Most Popular Stocks Among Hedge Funds. Netflix, Inc. (NASDAQ:NFLX) was in 113 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 106 funds in the previous quarter. Netflix, Inc. (NASDAQ:NFLX) delivered a -38.01% return in the past 3 months.
In February 2022, we also shared another hedge fund’s views on Netflix, Inc. (NASDAQ:NFLX) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
