Netflix Inc. (NASDAQ:NFLX) Co-CEO Gregory K. Peters recently executed significant transactions involving the company’s stock, according to a recent filing. Peters sold shares worth approximately $9.98 million over two days, with prices ranging from $994.54 to $1,005 per share. The transactions come as Netflix trades near its 52-week high of $1,011.83, with the stock showing remarkable strength, up about 82% over the past year. According to InvestingPro, technical indicators suggest the stock is currently in overbought territory.
On February 3 and 4, Peters exercised options and acquired shares at prices between $0 and $378.81, totaling $2.83 million. These transactions were part of a pre-established trading plan under Rule 10b5-1, adopted on October 30, 2024. Additionally, shares were withheld to cover tax obligations related to restricted stock units vesting.
Following these transactions, Peters’ direct ownership of Netflix stock now stands at 12,950 shares.
In other recent news, Netflix has made several notable announcements. The third and final season of its popular series, ’Squid Game’, is set to premiere on June 27, continuing the narrative from the second season’s end. The second season was a significant success, racking up 68 million views in its premiere week.
In the United Kingdom (TADAWUL:4280), discussions are underway about possibly extending the BBC license fee to users of streaming services like Netflix and Disney (NYSE:DIS). This is part of a broader plan to modernize the funding model for public-service broadcasters.
Recent analyst notes reveal that Phillip Securities has downgraded Netflix’s stock rating from Neutral to Reduce, despite a raised target price. This decision was influenced by the company’s strong membership growth and the success of its advertising business. Meanwhile, Loop Capital Markets has increased its price target for Netflix shares, maintaining a Hold rating, following an impressive fourth-quarter performance. Guggenheim analysts also raised their price target on Netflix shares, reiterating a Buy rating after the company’s strong Q4 results.
These developments highlight Netflix’s ongoing success in the streaming industry and its potential for future growth.
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