Insider Selling: Netflix (NASDAQ:NFLX) Director Sells $32,696,821.10 in Stock

Netflix, Inc. (NASDAQ:NFLX) Director Reed Hastings sold 390,970 shares of Netflix stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $83.63, for a total transaction of $32,696,821.10. Following the sale, the director owned 3,940 shares of the company’s stock, valued at approximately $329,502.20. The trade was a 99.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Reed Hastings also recently made the following trade(s):

• On Friday, January 2nd, Reed Hastings sold 426,290 shares of Netflix stock. The stock was sold at an average price of $91.67, for a total value of $39,078,004.30.
• On Monday, December 1st, Reed Hastings sold 375,470 shares of Netflix stock. The shares were sold at an average price of $108.43, for a total value of $40,712,212.10.

Netflix Stock Up 0.9%

Shares of NFLX opened at $80.87 on Friday. The company has a market capitalization of $341.45 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.42 and a beta of 1.71. Netflix, Inc. has a 52 week low of $79.22 and a 52 week high of $134.12. The stock’s 50-day moving average price is $91.77 and its 200-day moving average price is $108.62. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.51.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 20th. The Internet television network reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Netflix had a return on equity of 43.26% and a net margin of 24.30%.The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $11.97 billion. During the same period last year, the business earned $0.43 earnings per share. Netflix’s quarterly revenue was up 17.6% on a year-over-year basis. Netflix has set its Q1 2026 guidance at 0.760-0.760 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Trump says he will stay out of the Netflix/Warner Bros. bidding fight, reducing the risk of political intervention and prompting a positive market reaction to the deal process. Trump says he will stay out
• Positive Sentiment: Bullish commentary argues Netflix is an attractive buy here — analysts and columnists highlight lower share prices, diversified ad revenue and long‑term growth vectors (estimated multi‑$100B opportunity) that could support upside from current levels. Netflix’s $140 Billion Opportunity
• Neutral Sentiment: Deal process moving forward — reports say a Warner Bros. shareholder vote could be scheduled for March; that keeps the acquisition timeline active but doesn’t resolve regulatory or antitrust risk. Shareholder vote likely in March
• Neutral Sentiment: Options “max pain” data points to ~$88 by Feb. 20 — a technical/short‑term signal that can amplify intraday moves but isn’t a fundamental valuation change. Max pain at $88
• Negative Sentiment: Co‑CEO Ted Sarandos faced tough questioning in a Senate hearing on the Warner Bros. deal and antitrust risks remain front‑and‑center — increased regulatory scrutiny raises the chance of delays, remedies or a block, which would be a material negative for the merger thesis. Senate antitrust scrutiny
• Negative Sentiment: Large insider selling — director Reed Hastings disclosed a ~391k‑share sale (~$32.7M), a move that often spooks investors and can pressure the stock even if proceeds are for diversification. Reed Hastings insider sale
• Negative Sentiment: Competitive threat from large AI/video platforms (profiled as a “$1T AI superstar”) and ongoing content/talent frictions (e.g., voice‑actor boycotts) highlight secular pressure on viewer attention and potential production/headcount risks. AI competitor eating Netflix’s lunch

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Vanguard Group Inc. grew its holdings in shares of Netflix by 912.5% during the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after buying an additional 351,493,659 shares in the last quarter. Baillie Gifford & Co. boosted its position in Netflix by 912.3% during the fourth quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network’s stock worth $3,463,498,000 after acquiring an additional 33,290,988 shares during the last quarter. Jennison Associates LLC grew its stake in Netflix by 639.9% during the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network’s stock valued at $3,269,594,000 after acquiring an additional 30,158,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Netflix by 891.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,099,908 shares of the Internet television network’s stock valued at $1,134,487,000 after acquiring an additional 10,879,276 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Netflix by 850.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,858,157 shares of the Internet television network’s stock valued at $1,018,062,000 after acquiring an additional 9,716,017 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of Netflix in a research report on Wednesday, January 21st. Needham & Company LLC cut their price target on Netflix from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Netflix in a report on Wednesday, January 21st. Argus lowered their price target on Netflix from $141.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Redburn Partners set a $120.00 price objective on Netflix in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.17.

About Netflix

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.