On September 4, Netflix fell 3.01% in regular trading, trading at $80.205/share, with turnover of $661 million. The decline was driven by sustained insider selling and broad weakness across the Movies & Entertainment sector.
On the news front, Netflix Director Reed Hastings filed an SEC Form 144 on September 2 disclosing plans to sell 311,300 shares through Merrill Lynch, valued at approximately $25.2 million. This follows a prior filing in early August for 338,570 shares worth roughly $24.7 million, bringing his cumulative reduction over the past three months to over 700,000 shares. Co-CEO Gregory Peters also sold over 27,300 shares on August 6 at an average price of $73.54 per share. Meanwhile, the entertainment sector traded broadly lower, with Spotify Technology down 2.24%, Walt Disney down 1.68%, and Roku down 1.49%, amplifying downward pressure on Netflix through sector-wide linkage.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments