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Reed Hastings, the Executive Chairman of Netflix Inc. (NASDAQ:NFLX), reported selling shares of the company worth approximately $31.37 million, according to a recent SEC filing. The transactions, which took place on February 3, 2025, involved multiple trades at prices ranging from $965.14 to $986.39 per share. The sales occurred as Netflix trades near its 52-week high of $1,008, having delivered an impressive 77% return over the past year.
Hastings, who is both a director and officer at Netflix, executed these sales as part of a trading plan adopted on August 8, 2023. Following these transactions, Hastings retains direct ownership of 349 shares of Netflix common stock. Additionally, he holds 2,154,241 shares indirectly through the Hastings-Quillin Family Trust. According to InvestingPro data, Netflix currently maintains a perfect Piotroski Score of 9, indicating strong financial health.
The filing also disclosed Hastings’ acquisition of 32,067 shares through the exercise of stock options at a price of $89.00 per share, amounting to a total value of approximately $2.85 million. These shares were acquired as part of a non-qualified stock option plan. Based on InvestingPro analysis, Netflix appears to be trading above its Fair Value, with 20+ additional ProTips available to subscribers.
In other recent news, Netflix has announced the premiere of the third and final season of its popular series, ’Squid Game’, on June 27. The series’ success has been a significant driver for Netflix’s robust membership growth. In related developments, Netflix’s stock rating was downgraded from Neutral to Reduce by Phillip Securities, despite a raised price target to $870. Meanwhile, Loop Capital Markets adjusted its price target for Netflix shares to $1,000, maintaining a Hold rating. Guggenheim analysts also upgraded the stock target to $1,100, keeping a Buy rating on the back of impressive Q4 results.
In the United Kingdom (TADAWUL:4280), a change to the BBC license fee is being considered, potentially affecting households using streaming services such as Netflix. This is part of an effort to modernize the funding model for the public-service broadcaster. These recent developments underscore the dynamic nature of the streaming industry and the significant role Netflix continues to play in it.
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