Sepio Capital 13F: Cuts Netflix (NFLX) Stake by $891K

Sepio Capital trimmed its investment in Netflix, Inc. (NFLX) during the third quarter, reducing its holdings by 12,812 shares. According to a Form 13F filed with the SEC on October 22, 2026, the fund's stake dropped 14.1% to a total of 77,855 shares.

NFLX Netflix, Inc.

$65.04 ▼ -28.52% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Sepio Capital's Netflix Position

The reduction brought Sepio Capital's total stake in Netflix down to 77,855 shares at the end of the period. Based on the reported value of $5,417,216 in the filing, the position reflects the updated share count following the 12,812-share decrease from the previous total of 90,667 shares.

Other Institutional Activity in Netflix

Other large investors adjusted their positions around the same time. AMF Tjanstepension reduced its holdings by 52,511 shares, ending with 1,215,346 shares valued at about $84.5 million. Meanwhile, SBI Securities grew its holdings by 30,611 shares, ending with 197,813 shares worth about $13.8 million.

Netflix, Inc. Stock Down 2.3%

Netflix shares recently traded around $67.08 on October 23, 2026, close to the closing price of $67.05 on the filing date. The stock sits below its 50-day moving average of $74.66 and its 200-day moving average of $82.52. The recent price is well below its 52-week high of $116.73, though it remains above its 52-week low of $64.10.

Recent Earnings

For the trailing twelve months, Netflix posted revenue of $49.7 billion and earnings of $3.46 per share. The company reported a net profit margin of 29.7% and a return on equity of 53.5%. Its next financial update is scheduled for January 19, 2027.

Dividend

Netflix does not currently pay a dividend, keeping its payout ratio at zero.

Insider Buying and Selling at Netflix, Inc.

Company insiders executed several sales prior to the filing. Chief Executive Officer Gregory K. Peters sold 27,312 shares on August 6, 2026, at an average price of $73.54 for a total of $2.0 million. Chief Financial Officer Spencer Adam Neumann disposed of 9,248 shares on August 10, 2026, at $75.79 per share totaling $700,907. Director Richard N. Barton also completed two sales in September 2026.

Analysts Set New Price Targets

Wall Street firms updated their stances on the stock around the filing date. UBS and Citigroup maintained their Buy ratings while lowering their price targets to $100 and $85, respectively. Wolfe Research downgraded the stock to Peer Perform, while Argus Research kept a Buy rating with a $95 target and Pivotal Research maintained a Hold rating with a $65 target. Overall, the stock holds a consensus buy rating across 44 analyst opinions with a mean price target of $86.24.

About Netflix

Netflix, Inc. operates as a global entertainment service provider, offering television series, documentaries, feature films, games, and live programming. Subscribers stream content across internet-connected devices such as smart TVs, digital video players, set-top boxes, and mobile phones. Founded in 1997, the company is headquartered in Los Gatos, California.

Bottom Line

Institutional investors continue to reallocate their holdings as Netflix navigates a shifting media landscape. Market participants will look toward the company's next earnings report on January 19, 2027, for further updates on subscriber trends and financial performance.