Latest Insider Selling in April 2024: 5 Stocks to Watch

2. Netflix Inc (NASDAQ:NFLX)

Number of Hedge Fund Investors: 89

On April 1, Netflix Inc’s (NASDAQ:NFLX) co-founder and current Executive Chairman of the Board, Reed Hastings, sold 20,566 Netflix Inc (NASDAQ:NFLX) shares at $610.42 per share. Since April 1 Netflix Inc (NASDAQ:NFLX) shares have gained about 3.56%.

Pivotal Research recently increased its price target on Netflix Inc (NASDAQ:NFLX) to $765 from $700, as the firm believes there are strengths in Netflix Inc’s (NASDAQ:NFLX) core business.

Sequoia Fund stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its fourth quarter 2023 investor letter:

“Exits last year included Netflix, Inc. (NASDAQ:NFLX), Bank of America and Micron. We opportunistically added to our Netflix position in late 2022, near what turned out to be the lows. We sold our shares in stages over the course of last year as the stock price recovered and the valuation of the business rose dramatically.”