Netflix Inc. (NASDAQ:NFLX) shares are trading higher on Thursday after billionaire investor Bill Ackman returned to the streaming giant with a multimillion-share stake, delivering a high-profile vote of confidence as broader markets trade in risk-on mode.
Ackman’s Pershing Square Capital Management disclosed a 3.15 million-share Netflix position, representing 4.9% of its portfolio.
The renewed bet comes four years after the hedge fund exited the stock in 2022, taking a loss of more than $400 million.
Why Bill Ackman’s Stake Boosts Netflix’s Outlook
Pershing Square’s renewed investment signals a sharp reversal from its 2022 exit. In its interim report for the six months ended June 30, 2026, the hedge fund said Netflix has "won the streaming wars" and expects the company to compound revenue at a double-digit rate while content costs grow more slowly, creating room for further margin expansion.
The investment adds another bullish catalyst for Netflix as Ackman backs the company’s ability to translate its streaming leadership into sustained revenue growth and improved profitability.
Separately, a Form 4 filing showed Netflix CFO Spencer Neumann sold 9,248 shares at an average price of $75.79. Following the transaction, Neumann retained 73,787 shares.
Netflix Technical Outlook
From a longer-term view, Netflix remains under pressure, trading about 8.3% below its 100-day SMA ($83.81) and 14% below its 200-day SMA ($89.35). The death cross formed in December 2025 also points to a broader downtrend.
In the near term, the setup is improving, with shares back above the 20-day SMA ($72.25) and slightly above the 50-day SMA ($74.88). However, with the 20-day still below the 50-day, the recovery has yet to confirm a clean uptrend.
Momentum is also turning more bullish, with MACD above its signal line and a positive histogram, suggesting selling pressure is easing and buyers are gaining traction.
- Key Support: $71.00 — a recent buyer-defense area near the 20-day SMA
- Key Resistance: $78.50 — a nearby ceiling where the rebound could stall
Netflix Analyst Ratings & Price Targets
The stock carries a Buy rating with an average price forecast of $91.62 (with targets ranging from $70.00 to $125.00 across 50 analysts). Recent analyst moves include:
- Baird: Outperform (Lowers Target to $90.00) (July 22)
- Morgan Stanley: Overweight (Lowers Target to $83.00) (July 17)
- Goldman Sachs: Buy (Lowers Target to $94.00) (July 17)
Netflix’s ETF Exposure
Netflix carries notable weight across several ETFs, including REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) at 6.68%, Monarch Blue Chips Core Index ETF (NASDAQ:MBCC) at 4.54%, and Invesco Next Gen Media and Gaming ETF (NYSE:GGME) at 7.29%.
Given Netflix’s sizable allocations in these funds, significant ETF inflows or outflows could translate into corresponding buying or selling pressure on NFLX shares.
NFLX Stock Price Activity Today
NFLX Stock Price Activity: Netflix shares were up 3.46% at $76.78 on Thursday, according to Benzinga Pro data.
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