Netflix Inc. reported a transaction by its chief financial officer that saw 9,248 shares of common stock sold on February 6, 2026, for an aggregate amount of about $751,597. The disposal was disclosed in a Form 4 with the Securities and Exchange Commission that bears the signature of Veronique Bourdeau, Authorized Signatory For: Spencer Neumann, and was filed on February 9, 2026.
The trades were executed in multiple tranches at narrowly clustered prices between $81.2701 and $81.2716 per share, producing a weighted average sale price of $81.2714. After the disposition, Neumann is reported to directly hold 73,787 shares of Netflix stock.
At the time of the report, Netflix shares were trading near $81.47, close to the 52-week low of $79.22, and the stock has fallen by almost 33% over the prior six months. The company’s market capitalization is cited at $343.68 billion, and the security displays a historical Beta of 1.71.
Beyond this insider transaction, several corporate and regulatory developments are noted in connection with Netflix’s strategic activities.
First, the pending deal between Warner Bros. Discovery and Netflix is drawing attention on multiple fronts. Senator Tim Scott has raised questions with the SEC about whether Warner Bros. Discovery has adequately disclosed particulars of the agreement, in particular drawing attention to language that could permit reductions in the cash payment from Netflix depending on transfers of debt.
Second, the U.S. Department of Justice has initiated an inquiry into potential anticompetitive behavior by Netflix related to the acquisition, which covers Warner Discovery’s studios and the HBO Max streaming service. These investigatory steps reflect concerns about market concentration tied to the transaction.
Shareholder proceedings at Warner Bros. Discovery on the Netflix transaction have been accelerated, with a vote on the deal now expected in March, moved forward from the prior expectation of April 2026. In a related note, U.S. President Donald Trump has chosen not to intervene in the media merger review involving Netflix and Paramount Skydance, a reversal from an earlier position.
Analyst coverage mentioned in the disclosure shows continued institutional interest: Bernstein SocGen Group has reiterated an Outperform rating on Netflix with a price target of $115.00. Separately, InvestingPro analysis is cited as indicating that Netflix is slightly undervalued at current levels and references additional proprietary research tools and guidance available to subscribers.
This combination of insider selling, depressed share price levels, regulatory scrutiny and analyst commentary frames the current investor landscape for Netflix. The Form 4 filing provides the official record of the officer-level transaction; the broader deal-related developments outline outstanding uncertainties surrounding the company’s acquisition strategy.