Carl Icahn Unloads 3M Netflix Shares

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Talk about profit taking. Billionaire investor to sell nearly 3 m Netflix shares icahn said, after doing business is about 800 m "increase the price of the shares from the original 457% to about $58 a share investment." Netflix played all time high of $389.16 in early trading today after it launched a stronger-than-expected third-quarter results. But it closed at $322.52-9.2% - drop may be due to icahn's sales. He still has nearly 2.7 million shares, equivalent to about 4.5% of the vote, he bought his own about a year ago, after a brief tangle, Netflix CEO Reed Hastings (Reed Hastings) adopted a poison pill - from engineering design, in order to prevent the icahn takeover defence unnecessary sales. Icahn today thanks to Hastings and chief content officer ted Sarandos "a job well done." He added: "the last but not least, I would like to thank Kevin sent west" who played Netflix card series, the house of representatives. Icahn said, "seven bear market" hardened veteran, he know that you are lucky and/or smart enough, "to make such a big profits," when "it is time to take some chip close the table." But his son, Brett, and another fund manager, David schecter, icahn enterprises to choose, to meet some of their compensation, the performance of the company's share price. They call the $7.99 monthly flow service "the great consumer bargaining, of our time", and said that it "could eventually raise prices to $9.99 a month, more than five years in the future." They also believe that Netflix can win as many as 90 m domestic users. Between, overseas growth opportunities, "we believe that the company valuation is still relatively low." Carl Icahn, Carl Icahn said in a CNBC interview in July, he wants to sell its stake "until 100, and threatened to leave my son". Netflix is down 2.2% in late trading, icahn announcement
Here's the release of icahn enterprises:
New York City - icahn enterprises LP (nasdaq stock code: the ieps require curricular modules) and its affiliated companies to the securities and exchange commission today revised schedule 13 d reflect Netflix sold 2989000 shares of common stock. Netflix common stock in a variety of private investment fund at the combination of sargon, specified in its portfolio includes icahn enterprises investment division, David schecter and Brett icahn joint managers on August 1, 2012, according to the agreement (the "joint agent agreement").
The decision to sell the Netflix common stock is by Carl Icahn (Carl Icahn) given the price of the shares is about $58, because the original investment growth 457%. Under the agent agreement in order to solve a number of provisions, Carl icahn and icahn enterprises reached an agreement with David schecter and Brett icahn (schedule 13 d copy submitted as evidence), let Carl icahn and icahn enterprises to reduce their exposure, allows Netflix joint agent at the same time maintain a common agent agreement on the basis of Netflix will probably get the compensation under the share price performance.
David schecter and Brett icahn said:
We in the cost of Netflix benchmark for 58 dollars a share. Although only a little more than a year of significant rise to $323 a share, below are reasons, we believe that the company remains significantly undervalued. As the price for only $7.99 per month subscription service, we believe that Netflix bargaining are great consumers of our times. We find it difficult to understand why a family not a subscription service, considering the low monthly price, powerful content aggregation (including increase premium and the award-winning original series combination) and significantly superior user experience from the Angle of the interface and the overall technology. Netflix's content is given priority to fixed fee (main variables within the scope of the choice of the management, to further improve service) business model gives a great operational gearing. We admit that this kind of operating leverage, combined with the growth of the domestic and international users and we expect prices to rise modestly, with the passage of time, has been and will continue to be the core of our investment theory.
Reed Hastings, Netflix's opportunity in the United States, estimates range for total domestic market scale for 600000-900000 home users, means that Netflix will add 300000 new home users, using the low end of this range. Although the schedule is questionable, we share the reed's confidence in the overall size of this market, we have noticed that at present, the company net increase of 6 million new users each year. In addition, only $7.99 per month, we think Netflix pricing power - and, and we also did not expect prices to rise over the next two years, we think that is reasonable expectations, the company may eventually raise prices to $9.99 a month in the process of the next five years (the equivalent of a very moderate growth by about 4.6%). In a word, we expect these new users increase and prices will increase by $430 million in domestic, annual revenue stream. Even if the company decided to, in order to increase the cost of spending income (mainly) $1 billion a year (55% increase), in order to seek to further improve the user experience, achieve this growth, operating leverage will is still impressive, add $330 million, with domestic contribution to profits.
Although domestic growth story is merely striking, we believe that in the long-term international opportunities. We strongly support the company's strategy, its profits and investment into domestic growth and rapidly improve international operating profit mean for the future of the acceleration of international expansion, launched in 2014 and beyond the big new market. Has the most in the world, Netflix has not been introduced, and the company is still in the early international competitions, including has been launched. Because Netflix launched a powerful service products in each region

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