Netflix CEO Buys 1 Million Dollars In Facebook Stock

By: CNN (posted by Justin Surrency) Email
By: CNN (posted by Justin Surrency) Email

CNN -Netflix's CEO believes in Facebook.

Reed Hastings, the cofounder of Netflix (NFLX) and a Facebook board member, recently bought a cool $1 million worth of shares in the social network, according to a regulatory filing submitted Wednesday.

Hastings purchased roughly 47,800 shares at an average purchase price of $21.03 each.

Other investors aren't quite so eager to load up on Facebook (FB) shares. The company went public in May at $38 per share, but its stock has since tumbled, closing Friday at $21.81.

Facebook granted Hastings 20,000 restricted stock units when he joined the company's board in June 2011. Those shares haven't vested yet, though, so Wednesday's purchase marks his first stake in the company. To top of page


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email: feedback@wibw.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 165901306