Netflix (NFLX) Co-Founder Reed Hastings Just Sold $40 Million of Company Stock

FomoAnxiety · 2026-04-03T15:22:30+00:00

Reed Hastings, co-founder of Netflix, sold $40.1 million worth of stock on April 1, while also exercising options for additional shares. This follows previous sales amid Netflix's acquisition attempts and subsequent price hikes for its service.

FomoAnxiety

2026-04-03 15:22:30

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Reed Hastings, the co-founder and current board chair of Netflix NFLX +3.25% ▲ , just sold $40.1 million with of company stock.

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Hastings latest stock sale occurred on April 1, when he offloaded 393,950 NFLX shares in multiple transactions. Hastings sold the stock at prices ranging from $95.02 to $96.66, according to a filing with the U.S. Securities and Exchange Commission (SEC).

However, also on April 1, Hastings exercised previously awarded options to acquire 420,550 shares of Netflix stock at a price of $9.44, for a total value of $3.97 million. Both the sale and options exercise were conducted on the open market.

Reed Hastings’ Netflix Position

The latest stock sales continue a pattern with Hastings who has been steadily selling his holdings of NFLX stock throughout this year. On March 2, Hastings sold 410,000 share of company stock for proceeds of about $39 million.

The stock sales come after Netflix lost its bid to acquire rival Warner Bros. Discovery WBD -0.62% ▼ . Following a protracted battle with Paramount Skydance PSKY +2.92% ▲ , Netflix abandoned its $82 billion pursuit of Warner Bros. Shortly after losing out on the Warner Bros. acquisition, Netflix raised prices for its streaming service.

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