LOS GATOS, Calif.—David A. Hyman, Chief Legal Officer of Netflix Inc. (NASDAQ:NFLX), executed significant stock transactions on February 5, 2025, according to a recent SEC filing. The transactions come as Netflix, now valued at over $433 billion, trades near its 52-week high of $1,016.35, with InvestingPro analysis indicating the stock is currently overvalued. Hyman sold a total of 62,716 shares of Netflix common stock, generating proceeds of approximately $62.6 million. The shares were sold at prices ranging from $987.99 to $996.20 per share.
In addition to the sales, Hyman also exercised options to acquire a substantial number of shares. The transactions involved acquiring shares at prices between $179.95 and $386.24 per share, for a total value of approximately $17.3 million. Following these transactions, Hyman holds 31,610 shares of Netflix common stock directly.
These transactions were made under a pre-established Rule 10b5-1 trading plan adopted by Hyman in October 2024.
In other recent news, Netflix has been making headlines with a mix of content announcements and financial developments. Netflix’s popular series, ’Squid Game’, is set to premiere its third and final season on June 27, a development eagerly anticipated by viewers worldwide.
In financial news, Phillip Securities downgraded Netflix’s stock rating to ’Reduce’ from ’Neutral’, despite raising the price target to $870 from $695. The firm acknowledged Netflix’s strong membership growth and successful advertising business as key drivers for the revision. Meanwhile, Loop Capital Markets raised its price target for Netflix shares to $1,000 from $925, maintaining a ’Hold’ rating on the stock. The adjustments followed Netflix’s exceptional fourth-quarter performance, which saw nearly 19 million new subscribers join the service.
On the other hand, Guggenheim analysts upgraded the price target on Netflix shares to $1,100 from $950, reiterating a ’Buy’ rating. This adjustment follows Netflix’s impressive fourth-quarter results, which exceeded guidance across all financial metrics.
In regulatory news, the United Kingdom (TADAWUL:4280) is considering extending the BBC license fee to users of streaming services such as Netflix and Disney (NYSE:DIS), as part of a broader plan to update the funding model for the public-service broadcaster. These are among the recent developments concerning Netflix, reflecting its ongoing market dominance and operational success, as well as its potential impact on international regulations.
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