Netflix (NFLX) Rose on Strong Subscriber Growth

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund (Investor Class) returned 11.79% compared to 7.86% for the MSCI Emerging Markets Index. The fund has returned 95.52% cumulatively since June 30, 2015, compared to a 29.14% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

In its Q4 2023 investor letter, Artisan Developing World Fund featured stocks such as Netflix, Inc. (NASDAQ:NFLX). Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is a streaming platform.  On January 5, 2024, Netflix, Inc. (NASDAQ:NFLX) stock closed at $474.06 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was 3.08%, and its shares gained 50.41% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $207.487 billion.

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

“Top contributors to performance for the quarter included global streaming giant Netflix, Inc. (NASDAQ:NFLX). Netflix rose due to strong subscriber growth from its password-sharing crackdown, optimism about its advertising initiative, and an improving competitive landscape as reflected in favorable margin guidance.”

Netflix, Inc. (NASDAQ:NFLX) is in 23rd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 102 hedge fund portfolios held Netflix, Inc. (NASDAQ:NFLX) at the end of third quarter which was 114 in the previous quarter.

We discussed Netflix, Inc. (NASDAQ:NFLX) in another article and shared billionaire Louis Bacon’s long-term stock picks. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.