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Netflix CFO Sells Millions in Stock
17 Aug
Summary
- CFO Spencer Neumann sold $5.59 million worth of Netflix shares.
- The sale represented an 11.14% reduction in Neumann's direct holdings.
- Netflix shares recently traded below their 52-week high.
Netflix Chief Financial Officer Spencer Neumann offloaded shares worth approximately $5.59 million on August 10. The sale involved 9,248 shares transacted at an average price of $75.79, reducing Neumann's direct holdings by 11.14%.
This insider selling activity comes as Netflix stock trades below its 52-week high of $126.71, with recent pricing around $76. The streaming giant's market value is estimated to be near $318 billion.
Recently, Netflix announced quarterly earnings of 80 cents per share, surpassing Wall Street's projections. The company also reported revenue of $12.56 billion, marking a 13.4% increase compared to the previous year. This filing follows other instances of insider selling activity at Netflix this year.
