Netflix Co-CEO Hastings Buys $20 Million of Shares After Drop
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Netflix Inc. Co-Chief Executive Officer Reed Hastings bought $20 million of shares in the streaming company in the days after a disappointing subscriber projection sent the stock tumbling.
Hastings purchased 51,440 indirectly owned shares at an average price of $388.83 each starting on Jan. 27, according to a regulatory filing Friday. The stock was purchased on behalf of a Hastings family trust. The transactions increased his beneficially owned shares by 1% to 5.16 million, according to the filing.