Billionaire investor Carl Icahn announced via Twitter yesterday that he was selling the remainder of his shares in video streaming giant Netflix, Inc. (NASDAQ:NFLX), causing the prices to drop over 3% today. Icahn, who originally invested in Netflix in 2012, is rumored to have made over $2 billion through his stake in the company.

Icahn appeared on CNBC to discuss the sale, saying that he thinks Netflix is “still a great company” but felt that the market was “over heated” at the moment. He affirmed his original investment, calling it a “no brainer” at the time. Netflix was trading at $58 a share at the time Icahn bought in.The announcement was via Icahn’s personal Twitter, and NFLX shares were trading near an all-time high of $703 at the time. Currently, shares are hovering around $656, having dropped nearly 3% since the opening bell, but recouped a bit to finish lower by about two percent.

Investors should note that Netflix has recently announced a 7:1 stock split, as reported by Zacks here. NFLX currently has a Zacks Rank #3 (Hold). An “F” grade for value in our Style Score system, along with a Forward P/E of $427.24 indicates that Netflix is not a value pick for investors right now.

Netflix’s record for growth, along with their continued plans for expansion, do show some positive signs. Over the past year, Netflix has beaten earnings expectations by an average of 21.24%. Also, the company will debut service in Italy, Spain, and Portugal later this year, further expanding its international presence. The time for ridiculous gains like Carl Icahn’s may be over, but NFLX has cemented itself as a stock to watch for years to come.

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