Netflix Inc. Chief Executive Reed Hastings has acquired $1 million in Facebook Inc. stock, Facebook disclosed in a Friday Securities and Exchange Commission filing. Hastings, a member of Facebook's board of directors, revealed that he bought 47,846 shares of Facebook on Wednesday at an average price of $21.03 a share, the filing said. Previously, Hastings had 20,000 restricted stock units he was granted when he joined the board in June. Facebook shares had declined 45% from their May debut through Thursday. The social media network's stock was up 2.5% in Friday afternoon trading.

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