Netflix (NASDAQ: NFLX) Co-CEO Gregory K. Peters disclosed the sale of 105,781 shares of common stock on January 29, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The disposals were carried out under a pre-arranged 10b5-1 trading plan and amounted to roughly $8.7 million in proceeds.
The transactions were divided into two separate trades. The larger sale consisted of 98,221 shares sold at a weighted average price of $82.8728, with trade prices ranging from $82.37 to $83.3692. A second sale covered 7,560 shares at a weighted average price of $83.7538, in a price band between $83.37 and $84.35.
After the completion of these transactions, Peters is reported to directly own 122,140 shares of Netflix.
Context in the market
These insider sales come at a time when Netflix has drawn attention from analysts and regulators alike. The company posted Q4 FY2025 results that exceeded market expectations, driven by notable growth in both its subscriber base and its advertising business. That performance prompted several brokerages to revise their views on the stock.
- Freedom Capital Markets upgraded its rating on Netflix from Hold to Buy and set a price target of $104.00.
- Phillip Securities moved its rating from Sell to Accumulate, elevating its price target to $100.00 and citing Netflix's leadership in video-on-demand.
- Bernstein SocGen Group maintained an Outperform rating with a $115.00 price target.
Separately, Netflix's reported $83 billion offer for Warner Bros. Discovery has generated scrutiny overseas. In the UK, politicians and former policymakers have urged that the competition authority perform a comprehensive review of the transaction. Reports also indicate that Barry Diller approached Warner Bros. Discovery to express interest in buying CNN, adding to the complexity of the strategic landscape surrounding both companies.
Takeaway
The disclosed sales by Peters represent a sizable insider transaction executed via a predetermined trading plan. They occurred against a backdrop of positive quarterly results, multiple analyst upgrades, and a high-profile potential acquisition involving Warner Bros. Discovery. The combination of executive selling, shifting analyst sentiment, and merger activity contributes to a dynamic environment for Netflix and related media assets.