Netflix's (NFLX) CEO Hastings Buys Nearly 50K Facebook (FB) Shares

August 10, 2012 9:03 AM EDT
Facebook (NASDAQ: FB) is seeing rare upside Friday after an interesting insider purchase.

Late Thursday, it was disclosed that Netflix, Inc. (Nasdaq: NFLX) CEO Reed Hastings bought 47,846 FB shares on August 8th at a average price of $21.03. This encompasses his entire stake in FB.

Mr. Hastings is a Director at Facebook.

Shares of FB last traded at $21.20, up 0.9 percent from Thursday's close.

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