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Icahn Sells Portion of Netflix Stakes – Wins Big

Icahn Sells Portion of Netflix Stakes – Wins Big
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Reuters is reporting that billionaire activist investor, Carl Icahn has sold a portion of his Netflix (NASDAQ: NFLX) stake netting him between $700 and $800 million.

Icahn bought a nine percent stake in the company in August of 2012 at an average price of $58 per share. He sold three million shares from October 10 to October 22 for around $341 per share for a gain of 457 percent. Icahn, who owns and runs Icahn Enterprises (NASDAQ: IEP), still owns a 4.5 percent stake in Netflix—down from 9.4 percent in June.

Icahn Enterprises has assets of about $29 million and owns stakes in CVR Energy (NYSE: CVI), Forest Labs (NYSE: FRX), Chesapeake Energy (NYSE: CHK), and his very public position in Apple (NASDAQ: AAPL). Icahn often takes an activist approach but as Netflix quickly began reporting strong financial results, Icahn sat back and did nothing.

Related: Carl Icahn’s Top Six Positions

He said in a tweet:

Posted-In: Apple Carl Icahn chesapeake energy CVR Energy Forest LabsNews Insider Trades Tech Best of Benzinga

 

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