FMR LLC & Abigail Johnson Report 5.05% Netflix Stake

Ticker: NFLX · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

TL;DR

**FMR LLC and Abigail Johnson still own 5.05% of Netflix, showing continued institutional confidence.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Netflix Inc. As of February 9, 2024, they collectively beneficially own 22,104,971 shares of Netflix common stock, representing 5.050% of the company. This filing indicates a slight decrease in their reported sole voting power from a previous filing, but their overall beneficial ownership percentage remains significant, signaling their continued, albeit slightly adjusted, confidence in Netflix's long-term prospects.

Why It Matters

This filing shows that a major institutional investor and its leader continue to hold a significant portion of Netflix, which can be seen as a vote of confidence, but the slight adjustment in voting power could indicate a minor shift in their investment strategy.

Risk Assessment

Risk Level: low — This is a routine update from a major institutional investor and does not indicate any immediate or significant risk to Netflix shareholders.

Analyst Insight

A smart investor would note that a major institutional holder like FMR LLC continues to hold a substantial stake in Netflix, suggesting long-term confidence, but this filing itself doesn't warrant immediate action. It's a data point to consider alongside other fundamental and market analyses.

Key Numbers

22,104,971 — Shares Beneficially Owned (Total Netflix common stock shares held by FMR LLC and Abigail P. Johnson as of the filing date.)
5.050% — Percentage of Class (The proportion of Netflix's total common stock owned by FMR LLC and Abigail P. Johnson.)
20,716,816 — Sole Voting Power (FMR LLC) (The number of shares FMR LLC has sole power to vote or direct the vote for, as reported in Item 5.)
0 — Shared Voting Power (FMR LLC) (The number of shares FMR LLC has shared power to vote or direct the vote for, as reported in Item 6.)
0 — Sole Voting Power (Abigail P. Johnson) (The number of shares Abigail P. Johnson has sole power to vote or direct the vote for, as reported in Item 5.)

Key Players & Entities

FMR LLC (company) — reporting person and parent holding company
Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
NETFLIX INC (company) — the issuer of the securities
22,104,971 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
5.050% (dollar_amount) — percentage of Netflix's common stock beneficially owned

Forward-Looking Statements

FMR LLC will maintain a significant, but potentially slightly adjusted, stake in Netflix over the next year. (FMR LLC) — high confidence, target: 2025-02-09
Netflix's stock performance will likely not be significantly impacted by this routine filing alone. (NETFLIX INC) — high confidence, target: 2024-03-09

FAQ

Who are the reporting persons in this SC 13G/A filing?

The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 for each reporting person on the cover page.

What is the total number of Netflix Inc. common shares beneficially owned by FMR LLC and Abigail P. Johnson?

FMR LLC and Abigail P. Johnson each beneficially own 22,104,971 shares of Netflix Inc. common stock, as indicated in Item 7 for both reporting persons and Item 4(a) for FMR LLC.

What percentage of Netflix Inc.'s common stock do the reporting persons beneficially own?

The reporting persons beneficially own 5.050% of Netflix Inc.'s common stock, as stated in Item 11 for both FMR LLC and Abigail P. Johnson, and Item 4(b) for FMR LLC.

Under which rule is this Schedule 13G filed?

This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box on the first page and in Item 3.

What is the CUSIP number for Netflix Inc. common stock?

The CUSIP number for Netflix Inc. common stock is 64110L106, as listed on the cover page and in Item 2(e).

From the Filing

0000315066-24-001296.txt : 20240209 0000315066-24-001296.hdr.sgml : 20240209 20240209092831 ACCESSION NUMBER: 0000315066-24-001296 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NETFLIX INC CENTRAL INDEX KEY: 0001065280 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-VIDEO TAPE RENTAL [7841] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 770467272 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78283 FILM NUMBER: 24611892 BUSINESS ADDRESS: STREET 1: 121 ALBRIGHT WAY CITY: LOS GATOS STATE: CA ZIP: 95032 BUSINESS PHONE: 408-540-3700 MAIL ADDRESS: STREET 1: 121 ALBRIGHT WAY CITY: LOS GATOS STATE: CA ZIP: 95032-7606 FORMER COMPANY: FORMER CONFORMED NAME: NETFLIX COM INC DATE OF NAME CHANGE: 20000229 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.1 NETFLIX INC COMMON STOCK Cusip #64110L106 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #64110L106 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 20,716,816 Item 6: 0 Item 7: 22,104,971 Item 8: 0 Item 9: 22,104,971 Item 11: 5.050% Item 12: HC Cusip #64110L106 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 22,104,971 Item 8: 0 Item 9: 22,104,971 Item 11: 5.050% Item 12: IN Item 1(a). Name of Issuer: NETFLIX INC Item 1(b). Address of Issuer's Principal Executive Offices: 121 ALBRIGHT WAY Los Gatos, CA 95032 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 64110L106 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 22,104,971 (b) Percent of Class: 5.050% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 22,104,971 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of NETFLIX INC. No one other person's interest in the COMMON STOCK of NETFLIX INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my kno