Carl Icahn reduced his stake in Netflix to 4.5% from 9.98%, according to a 13D filing.
Icahn took a position in Netflix when it was trading at $US58 per share. Today, the stock closed at $US322.52, up about 457% from his initial purchase price.
In a tweet, Icahn thanked Kevin Spacey — the star of Netflix’s hit original series, House of Cards — and others:
The stock fell more than 9% today after Netflix reported strong earnings results yesterday. Several Wall Street analysts raised concerns over valuation in post-earnings notes to clients.
Shares are down an additional 2% in after-hours trading on the Icahn news.