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M&T Bank Corp Sells 16,716 Shares of Netflix, Inc. $NFLX
M&T Bank Corp significantly reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by selling 16,716 shares, a 48.7% cut, leaving them with 17,619 shares valued at $1.652 million. This move comes amid substantial insider selling from Netflix executives, including co-founder Reed Hastings and CFO Spencer Adam Neumann, who collectively sold shares worth over $136 million in the last 90 days. Despite the insider sales, Netflix reported strong Q1 results, beating EPS and revenue estimates, and holds a “Moderate Buy” consensus rating from analysts with an average price target of $114.82.