Netflix Inc. (NASDAQ: NFLX) is witnessing a surge in insider selling activity, with several top executives offloading significant portions of their holdings.
According to data flagged by Finbold’s insider trading radar, tens of millions of dollars’ worth of shares were sold in transactions disclosed through Form 4 filings made public on April 2.
The timing of the sales has drawn attention. Netflix shares are currently trading at $929, down 1.25% on the day but up over 4% year to date. Despite a 4.5% decline over the past month, the stock continues to show relative strength in the tech sector, prompting investor scrutiny over the timing of these sizable executive selloffs.
Netflix executives offloaded more than $25 million in stock
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The filings reveal that Netflix CFO Spencer Neumann executed a scheduled stock sale on April 1 under a Rule 10b5-1 trading plan adopted in October 2024. Neumann exercised options to acquire 2,601 shares at $336.63 per share, worth roughly $875,000 before selling the entire batch at prices between $914.77 and $931.09.
The move netted over $2.4 million in proceeds, with Neumann retaining 3,691 shares post-sale.
Meanwhile, Executive Chairman and co-founder Reed Hastings carried out a much larger transaction under a trading plan established in August 2023.
Hastings exercised options to acquire 25,360 shares at $112.56 each, then sold them the same day at prices ranging from $913.40 to $931.80. The total haul from the sale amounted to approximately $23.36 million.
Following the sale, Hastings now directly holds just 394 shares, though he maintains a significant indirect interest through the Hastings-Quillin Family Trust.
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