Netflix is one of the most popular cloud stocks. It provides subscription streaming entertainment services worldwide. The stock rallied during the coronavirus lockdowns. People were forced to stay home while the infection spread rapidly, and they were actively using Netflix’s channels. As a result, the company’s shares have surged forward by 46.8% in 2020. It also has a market capitalization of 214.84B.
Overall, the company gained 10.1 million from paying customers in the second quarter. It has added 26 million new subscribers in 2020 alone in contrast to 28 million new subscribers for the whole of 2019. Netflix’s revenues jumped by almost 25% to $6.1 billion. Meanwhile, its profits skyrocketed to $720 million in the second quarter, up from $271 million a year ago.
Furthermore, Netflix is in the portfolio of 109 hedge fund managers. Its largest shareholder was SRS Investment Management, with a stake worth of $1270.9 million reported at the end of March.
The second-largest shareholder, Citadel Investment Group, amassed a stake valued at $990.3 million. Matrix Capital Management, Viking Global, and Tiger Global Management were also fond of this stock, giving it large weights in their portfolios.
How did Workday fare?
Workday has underperformed by -1.21% over the last month, but it has increased by 9.82% year-to-day. It also reported fourth-quarter fiscal 2020 non-GAAP earnings of 50 cents per share.
Furthermore, Workday secured deals with several high-profile companies. Among them are Wells Fargo, Southwest Airlines, Prudential Company of America, Banco Santander, and Natwest Group. After that, the company’s revenues rallied by 24.7% year over year to $839.7 million.
Workday has a market capitalization of $41.878bn. Bares Capital Management holds the largest stake in the company. It reported holding $394.8 million worth of stock at the end of September. Viking Global also holds a $320.6 million position. According to the forecast, the company may profit significantly in the coming months.