Key Highlights
- Netflix co-founder and board chair Reed Hastings sold $40.1M in NFLX stock on April 1, 2026
- The sale covered 393,950 shares at prices between $95.02 and $96.66
- On the same day, Hastings exercised options to buy 420,550 shares at just $9.44 each
- Hastings also sold ~$39M in NFLX stock on March 2, continuing a pattern of steady selling this year
- 41 Wall Street analysts hold a consensus Strong Buy on NFLX, with an average price target of $113.97
Reed Hastings, the co-founder and current board chair of Netflix (NFLX), executed a significant stock divestment worth $40.1 million on April 1, 2026. The transaction encompassed 393,950 shares distributed across several trades, with per-share pricing spanning from $95.02 to $96.66.
Regulatory filings submitted to the U.S. Securities and Exchange Commission (SEC) confirm the transaction occurred through open-market channels.
Coinciding with the divestment, Hastings activated previously granted stock options to purchase 420,550 NFLX shares at an exercise price of $9.44 per share, representing an aggregate value of approximately $3.97 million. Additionally, he obtained 654 shares through Non-Qualified Stock Options priced at $95.55.
This transaction follows a similar pattern established earlier in the year. On March 2, Hastings disposed of 410,000 NFLX shares, generating proceeds approaching $39 million. Combined, his equity sales for 2026 now exceed $79 million within a single month.
These transactions occur against the backdrop of Netflix abandoning its $82 billion acquisition attempt of Warner Bros. Discovery (WBD). After an extended competitive process that included Paramount Skydance (PSKY), Netflix ultimately withdrew from the WBD bidding process.
Following that development, Netflix implemented subscription price adjustments across its U.S. offerings.
Subscription Price Adjustments Attract Wall Street Focus
The advertising-supported Standard plan now carries a monthly fee of $8.99. The Standard ad-free option increased to $19.99, while the Premium tier reached $26.99 monthly.
Needham analysts project these pricing adjustments could generate approximately $1.7 billion in additional revenue, potentially elevating North American reported growth by roughly 300 basis points throughout fiscal 2026.
BofA Securities, Bernstein, and Needham have each reaffirmed optimistic assessments on the equity, establishing price targets of $125, $115, and $120 respectively.
NFL Partnership Expansion Under Consideration
Netflix currently pursues negotiations to double its NFL game package from two to four games annually. The streaming giant seeks additional time slots, including a Thanksgiving Eve matchup and an overseas contest.
These discussions progress as Netflix nears completion of its three-year Christmas Day game agreement, which carries an approximate cost of $75 million per game.
Citizens Bank recently launched coverage on NFLX with a Market Perform rating, acknowledging Netflix’s standing as the second-largest streaming platform worldwide.
Current analyst coverage shows 41 Wall Street analysts following NFLX with a consensus Strong Buy rating — comprising 30 Buy and 11 Hold recommendations issued during the past three months. The average price target stands at $113.97, suggesting approximately 16% upside potential from present trading levels.
