Icahn Cashes Out — And Cashes In — On Netflix Stake ift.tt/16tM7LF How’s this for profit taking? Carl Icahn on Tuesday unloaded nearly half of his almost 10 percent stake in Netflix cashing in on a stratospheric rise in the company’s stock price since he first made the investment. A new SEC filing detailing the transaction shows the activist investor sold 2.99 million shares at an average price of about $314.85, far above the $58-per-share average price he paid for them last October. That’s a total return of about 457 percent. “Sold a block of NFLX today,” Icahn tweeted Tuesday. “Wish to thank Reed Hastings, Ted Sarandos, NFLX team and last, but not least, Kevin Spacey,” he said, in a nod to star of one of Netflix’s marquee home grown series “House of Cards.” At $314.74, Netflix shares are down in after hours trading after earlier rising some 9 percent following a strong earnings report on Monday.
Posted on: Tue, 22 Oct 2013 22:25:32 +0000