Purchases $1 million in Facebook stock Netflix CEO

Netflix's CEO conceives in Facebook.

Reed Hastings, the cofounder of Netflix (NFLX) & a Facebook board member, recently bought a cool $1 million worth of shares in the social network, according to a regulatory filing presented Wednesday.

Hastings bought roughly 47,800 shares at an mean purchase price of $21.03 each.

Other investors are not quite so eager to load up on Facebook (FB)shares. The company went public in May at $38 per share, but its stock has since tumbled, closing Friday at $21.81.

Facebook conceded Hastings 20,000 restricted stock units when he joined the company's board in June 2011. Those shares have not vested yet, though, so Wednesday's purchase marks his first stake in the company.