Actually, director Jay Hoag sold 344,317 shares at $163.20 for $56,198,061. He bought those shares back in May of last year 200,000 for $72.55 and 143,400 for $73.06 for $24,986,627. So he made $31,211,434 in less than 8 months. 225% return is a great return on an 8 month investment. I'm sure he isn't complaining and is happy to have found enough hedge fund suckers to unload his shares to. I think if he believed the stock was going to go a lot higher he would have waited longer or at least would have only sold 45% of his position meaning that his risk would then be zero and the rest would be the houses money to play with. His dumping of the entire position tells me that he is a lot less optimistic about Netflix future than the momentum players out there who appear to love playing tulip mania. Any serious investor would not be buying at these levels. The stock is riding on hot air and there is no solid fundamental reason for Netflix to be sporting a $9.8 BILLION market cap!