Activist investor Carl Icahn said he sold nearly 3 million shares in Netflix, noting he reaped a substantial windfall from his investment in the online video service.
Icahn said he decided it was time to cash out, after the rapid appreciation of the company's stock, which rose to $323 a share, from his initial investment of $58 a share.
"As a veteran of seven bear markets, I have learned that when you are lucky and/or smart enough to have made a total return of 457% in only 14 months, it is time to take some chips off the table," Icahn said in a statement.
After the sale, Icahn retains a stake...