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Netflix CFO Spencer Neumann sells $691,552 in stock

Netflix Inc. (NASDAQ:NFLX), the $433 billion entertainment powerhouse that has delivered an impressive 81.6% return over the past year, reported that Chief Financial Officer Spencer Neumann recently sold shares of the streaming giant,
Spencer Neumann, the Chief Financial Officer of Netflix, sold 564 shares of the company's stock on May 9, 2024, at an average price of $628.19 per share, totaling $691,552. This transaction was part of a series of sales by Neumann, who has sold a total of 1,130 shares over the past year without any purchases. Despite these sales, Netflix's stock has seen a significant increase, with a year-to-date rise of 28.95% and a 62.76% increase over the last year. The company's market cap stands at $270.064 billion, with shares trading at $628.19, slightly above the GF Value of $590.36, suggesting the stock is fairly valued. However, the trend of insider selling, with 33 sells and no buys in the past year, might raise concerns among investors about the company's future prospects or insider confidence.

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