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Carl Icahn Halves His Stake In Netflix After Making 457% Return, Thanks Kevin Spacey And Others

Matthew BoeslerOct 23, 2013, 02:56 IST

Carl Icahn reduced his stake in Netflix to 4.5%, according to a 13D filing.

The activist investor cited recent gains in the stock for reducing his stake in the company, which was previously 9.98%, and said its remains "significantly undervalued."

Icahn took a position in the company when it was trading at $58 per share. Today, the stock closed at $322.52, 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:

Shares are down more than 2% in after-hours trading.