Icahn lowers Netflix stake to 4.5%

|By:, SA News Editor

In a new 13D, Carl Icahn discloses he has lowered his stake in Netflix (NFLX) to 4.52%. Icahn had nearly a 10% stake in the company when he first disclosed his investment a year ago.

Shares are up over 4x since Icahn first bought in. He admitted earlier this month Netflix's run-up meant shares are no longer a "no-brainer."

NFLX -2.2% AH after falling 9.2% in regular trading.

Earlier: Netflix turns negative post-earnings

Update: Icahn pared his stake in part by unloading 2.4M Netflix shares earlier today at $341.44. Shares are currently at $317 AH.

Update 2: Icahn on Twitter: "Sold block of NFLX today. Wish to thank Reed Hastings, Ted Sarandos, NFLX team, and last but not least Kevin Spacey."