LOS GATOS, Calif.—Netflix Inc. (NASDAQ:NFLX), the $433 billion entertainment powerhouse that has delivered an impressive 81.6% return over the past year, reported that Chief Financial Officer Spencer Neumann recently sold shares of the streaming giant, according to a regulatory filing with the Securities and Exchange Commission. The transaction, dated February 6, involved the sale of 685 shares of common stock at an average price of $1,009.57 per share, totaling approximately $691,552.
Following the sale, Neumann retains ownership of 3,691 shares. This transaction is part of routine insider trading disclosures that publicly traded companies must report to the SEC.
In other recent news, Netflix continues to make headlines with analyst adjustments and significant developments. Phillip Securities has downgraded Netflix’s stock rating from Neutral to Reduce, despite raising the price target to $870. This decision was driven by the company’s strong membership growth and successful advertising business, which led to a 4% increase in projected FY25e revenue. Concurrently, Loop Capital Markets has maintained a Hold rating on Netflix stock, while raising the price target to $1,000, following an impressive fourth-quarter performance that saw nearly 19 million new subscribers. Meanwhile, Guggenheim analysts have reiterated a Buy rating on Netflix shares and increased the price target to $1,100, reflecting the company’s strong quarterly results and growth potential.
In other recent developments, Netflix announced the premiere date for the third and final season of its popular series, ’Squid Game’, set for June 27. The previous season of ’Squid Game’ was a massive hit, becoming the third most-watched season on Netflix, with a record-breaking 68 million views in its premiere week. In addition, the United Kingdom (TADAWUL:4280) is considering a change to the BBC license fee, potentially affecting households using streaming services like Netflix, as part of a broader plan to update the funding model for the public-service broadcaster.
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