Hastings Reed, Executive Chairman of Netflix (NFLX), has demonstrated a pronounced selling bias in recent insider transactions, with no open-market purchases recorded in the past year. Since October 2025, Reed has executed 14 sales totaling over $125 million, including multiple high-value disposals in early 2026. The largest transactions occurred on March 2, 2026, when Reed sold $22.1 million and $12.5 million worth of NFLX shares in separate dispositions, followed by a $5.3 million sale the same day. These followed similarly sized sales earlier in the year, including a $20.6 million transaction on February 2 and a $24.1 million sale on January 2.
Reed’s trading activity shows a consistent pattern of quarterly dispositions, often accompanied by smaller sales likely tied to tax obligations or automated trading plans (coded "M"). The executive has exclusively traded NFLX shares across 188 reported transactions, with total lifetime sales exceeding $367 million against just $36.1 million in purchases. Recent filings indicate accelerated selling in Q1 2026, with three separate March transactions collectively valued at $39.8 million. While the sales represent a small fraction of Reed’s overall holdings given his long tenure, the absence of buy activity and clustering of disposals in early 2026 suggests ongoing portfolio rebalancing rather than a one-time liquidation event.
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