Netflix Inc. (NASDAQ:NFLX) Chief Legal Officer David Hyman recently sold shares of the streaming giant, according to a filing with the Securities and Exchange Commission. On February 4, Hyman sold 424 shares of Netflix common stock at an average price of $994.63 per share, totaling approximately $421,723. The sale comes as Netflix shares trade near their 52-week high of $1,011.83, with the stock delivering an impressive 82% return over the past year.
The transactions follow a series of stock activities by Hyman. On February 3, he acquired 544 and 302 shares through the vesting of restricted stock units (RSUs), which were settled on a one-for-one basis in common stock. Additionally, shares were withheld to satisfy tax obligations, resulting in the disposal of 271 and 151 shares at a price of $976.76 each, totaling $412,192. According to InvestingPro, Netflix currently maintains a strong financial position with a perfect Piotroski Score of 9, though technical indicators suggest the stock may be in overbought territory.
After these transactions, Hyman holds 31,610 shares of Netflix common stock in direct ownership. With Netflix’s market capitalization now exceeding $431 billion, these insider transactions are being closely monitored by investors. For deeper insights into Netflix’s valuation and over 20 additional exclusive ProTips, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Netflix has been the subject of several significant developments. The company announced the premiere of the third and final season of its popular series, ’Squid Game’, set to air on June 27. This follows the success of the second season, which garnered a record-breaking 68 million views in its premiere week.
In the United Kingdom (TADAWUL:4280), the government is considering extending the BBC license fee to users of streaming services, including Netflix. This proposition is part of a broader plan to update the funding model for the public-service broadcaster.
In the realm of financial analysis, Phillip Securities downgraded its rating on Netflix from Neutral to Reduce, despite increasing the price target to $870 from $695. This decision was made in response to the recent uptick in Netflix’s share price, suggesting a potential limit to further upside.
Meanwhile, Loop Capital Markets and Guggenheim both adjusted their price targets for Netflix, increasing them to $1,000 and $1,100 respectively. Both firms acknowledged Netflix’s strong fourth-quarter performance, including nearly 19 million new subscribers, as well as promising developments in the company’s advertising business. These are the latest developments in the ongoing story of Netflix’s market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.