SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* HOAG JAY C (Last) (First) (Middle) C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET (Street) PALO ALTO CA 94301 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol NETFLIX INC [ NFLX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 07/28/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/28/2011		M		490	A	$101.99	490	D(1)
Common Stock	07/28/2011		M		466	A	$107.29	956	D(1)
Common Stock	07/28/2011		M		456	A	$109.66	1,412	D(1)
Common Stock	07/28/2011		M		491	A	$101.88	1,903	D(1)
Common Stock	07/28/2011		M		371	A	$134.91	2,274	D(1)
Common Stock	07/28/2011		M		323	A	$154.66	2,597	D(1)
Common Stock	07/28/2011		M		299	A	$167.67	2,896	D(1)
Common Stock	07/28/2011		M		250	A	$200.14	3,146	D(1)
Common Stock	07/28/2011		M		280	A	$178.41	3,426	D(1)
Common Stock	07/28/2011		M		235	A	$212.9	3,661	D(1)
Common Stock	07/28/2011		M		244	A	$204.63	3,905	D(1)
Common Stock	07/28/2011		M		207	A	$242.09	4,112	D(1)
Common Stock	07/28/2011		M		211	A	$237.19	4,323	D(1)
Common Stock	07/28/2011		M		187	A	$267.26	4,510	D(1)
Common Stock	07/28/2011		S		4,510	D	$267.8118(2)	0	D(1)
Common Stock								63,854	I	The Hoag Family Trust U/A/ DTD 08/02/1994(3)
Common Stock								12,396	I	Hamilton Investments Limited Partnership(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$101.99	07/28/2011		M			490	05/03/2010	05/03/2020	Common Stock	490	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$107.29	07/28/2011		M			466	06/02/2010	06/02/2020	Common Stock	466	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$109.66	07/28/2011		M			456	07/01/2010	07/01/2020	Common Stock	456	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$101.88	07/28/2011		M			491	08/02/2010	08/02/2020	Common Stock	491	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$134.91	07/28/2011		M			371	09/01/2010	09/01/2020	Common Stock	371	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$154.66	07/28/2011		M			323	10/01/2010	10/01/2020	Common Stock	323	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$167.67	07/28/2011		M			299	11/01/2010	11/01/2020	Common Stock	299	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$200.14	07/28/2011		M			250	12/01/2010	12/01/2020	Common Stock	250	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$178.41	07/28/2011		M			280	01/03/2011	01/03/2021	Common Stock	280	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$212.9	07/28/2011		M			235	02/01/2011	02/01/2021	Common Stock	235	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$204.63	07/28/2011		M			244	03/01/2011	03/01/2021	Common Stock	244	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$242.09	07/28/2011		M			207	04/01/2011	04/01/2021	Common Stock	207	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$237.19	07/28/2011		M			211	05/01/2011	05/01/2021	Common Stock	211	(5)	0	D(6)
Non-Qualified Stock Option (right to buy)	$267.26	07/28/2011		M			187	06/01/2011	06/01/2021	Common Stock	187	(5)	0	D(6)

Explanation of Responses:

1. Jay C. Hoag ("Hoag") has the sole voting and dispositive power over these shares; however, TCMI, Inc. has a right to 100% of the pecuniary interest in such shares. Hoag is a stockholder and director of TCMI, Inc. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. This does not include shares held by The Hoag Family Trust U/A DTD 08/02/1994 and Hamilton Investments Limited Partnership, which are separately reported on this Form 4.

2. This transaction was executed in multiple trades at prices ranging from $267.81 to $267.82. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide, upon written request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. These shares are held by The Hoag Family Trust U/A DTD 08/02/1994. Hoag is a trustee of The Hoag Family Trust U/A DTD 08/02/1994. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

4. These shares are held by Hamilton Investments Limited Partnership. Hoag is the sole general partner and a limited partner of Hamilton Investments Limited Partnership. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

5. Not applicable.

6. Hoag has the sole voting and dispositive power over the options he holds directly; however, TCMI, Inc. has a right to 100% of the pecuniary interest in such options. Hoag is a stockholder and director of TCMI, Inc. Hoag disclaims beneficial ownership of such options and the shares he receives upon exercise of such options except to the extent of his pecuniary interest therein.

Remarks:

	Frederic D. Fenton, Authorized signatory for Jay C. Hoag	08/01/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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