Netflix co-CEO Gregory Peters sells $1.74M in shares as stock nears 52-week low
What happened
Netflix co-CEO Gregory Peters sold 27,312 shares of Netflix stock on Monday, Nov 9, at an average price of $63.62 per share, for a total of about $1.74 million, according to an SEC filing disclosed Nov 11. The sale cut his stake by 18.61%, leaving him with 119,412 shares worth about $7.6 million. The filing gives no reason for the sale. NFLX slipped more than 1% in the overnight session late Tuesday and opened Wednesday at $63.26, near its 52-week low, with the stock down 32.5% year to date.
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Start your free 14-day trialWho’s affected
- Netflix (NFLX) — direct; a co-CEO reducing his stake by nearly a fifth while the stock sits near its 52-week low
- Streaming peers — insider selling at the sector leader reinforces the market's existing doubts about streaming growth and ad execution