Feeds

Icahn trousered $700m from Netflix stock sale?! Er, it would appear so

Billionaire investor makes even more bags of money from canny video bet

Top three mobile application threats

Billionaire investor Carl Icahn has cashed in on Netflix's good fortunes, bagging profits of between $700m and $800m by selling three million shares earlier this month.

Icahn bought shares in the video streaming site just over a year ago for around $58 each and sold some of them yesterday for $341.44 per share, a 457 per cent gain.

Stocks in Netflix were riding particularly high yesterday after it announced that it had quadrupled profits and signed up an extra ten million users in the third quarter compared to the same time last year.

Icahn still holds 4.5 per cent of the 9.4 per cent stake he had in Netflix.

"As a hardened 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 per cent in only 14 months it is time to take some of the chips off the table," Icahn said in a filing with the Securities and Exchange Commission announcing the sale.

"I want to thank Reed Hastings, Ted Sarandos and the rest of the Netflix team for a job well done. And last but not least, I wish to thank Kevin Spacey," he joked, referencing Netflix's Emmy-award-winning drama House of Cards.

The TV and movie rental site's growth has been aided in no small part by the firm's investment in original content like House of Cards and its more recent hit Orange is the New Black.

Icahn wasn't the only investor to sniff a profit in the company's recent success. After coming into the market up ten per cent on its quarterly results, Netflix shares dropped 6.62 per cent as stockholders took profits out. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.