Netflix Inc. (NASDAQ:NFLX) Co-CEO Gregory K. Peters recently sold shares worth approximately $3.8 million, according to a filing with the Securities and Exchange Commission. The transaction, which took place on February 5, involved the sale of 3,782 shares at an average price of $1,010 per share, with the stock trading near its 52-week high of $1,016.35. Following the sale, Peters retains direct ownership of 12,950 shares of Netflix common stock, as the streaming giant’s market value stands at $433.6 billion. InvestingPro analysis indicates the stock is currently in overbought territory.
In a related transaction on the same day, Peters acquired 3,782 shares of Netflix common stock through the exercise of stock options at a price of $374.60 per share. This acquisition was part of a pre-arranged trading plan under Rule 10b5-1, which Peters adopted on October 30, 2024. After the exercise, the shares were sold at the aforementioned price, resulting in the net sale.
These transactions reflect Peters’ ongoing management of his equity stake in the streaming giant, which continues to be a significant player in the entertainment industry.
In other recent news, Netflix has announced the premiere date for the final season of its popular series, ’Squid Game’. The series is set to return on June 27, continuing the suspenseful narrative from the previous season. The news of the upcoming season follows the success of the second season, which achieved record-breaking viewership.
In the United Kingdom (TADAWUL:4280), discussions are underway to potentially extend the BBC license fee to users of streaming services, including Netflix. The proposed changes are part of a broader plan to modernize the funding model for the public-service broadcaster.
Netflix’s stock rating was recently downgraded from Neutral to Reduce by Phillip Securities, despite the firm increasing the price target for the stock. The revision was made in response to strong membership growth and a successful advertising business.
On the other hand, Loop Capital Markets increased its price target for Netflix shares while maintaining a Hold rating. The adjustment followed a report highlighting Netflix’s exceptional fourth-quarter performance, which saw nearly 19 million new subscribers join the service.
Lastly, Guggenheim analysts also raised the price target on Netflix shares while reiterating a Buy rating. This adjustment followed Netflix’s impressive fourth-quarter results, which exceeded guidance across all financial metrics. The firm believes the company’s potential for growth remains strong, citing new initiatives such as advertising sales, live content, and video game offerings as additional drivers for sustained growth in the coming years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.