Netflix Inc. (NASDAQ:NFLX) and Carl Icahn are two names that have been synonymous for the last year and two months. Icahn is perhaps one of the most notorious activist investors on Wall Street, and he purchased 9% of Netflix Inc. (NASDAQ:NFLX) a little more than a year ago. He has actively pushed for reform in the company and has made his opinions widely known about how the company should operate.

Icahn Records Record Profits

Now, after just more than a year, Icahn has slashed his stake in the online movie streaming giant. This is perhaps the biggest story of the day, as Icahn recorded a profit of more than 450%, according to Reuters. This is a monumental gain for the investor as it involves a profit of somewhere between $700 million and $800 million. He still retains 4.5% of the company, but has sold approximately 3 million shares this week.

Icahn says of the sale: “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 percent in only 14 months it is time to take some of the chips off the table.”

Sold block of NFLX today. Wish to thank Reed Hastings, Ted Sarandos, NFLX team, and last but not least Kevin Spacey: http://t.co/BRWpKOBfD2

— Carl Icahn (@Carl_C_Icahn) October 22, 2013

Netflix Looks Good For Investors

Netflix Inc. (NASDAQ:NFLX) does post a pretty future for investors. The days of the movie stores and video rentals are over. Movie rental stores have been replaced by kiosks and streaming movie services. Netflix Inc. (NASDAQ:NFLX) is the king of these services, and with stocks soaring by more than 250% since the beginning of fiscal year 2013, it poses a nice position for many investors.

Carl Icahn & Blockbuster

Netflix inc. (NASDAQ:NFLX) is not Carl Icahn’s first movie related investment. In 2004 he purchased a stake in Blockbuster, which is now bankrupt. He has labeled this as his “worst investment” ever. Blockbuster is now a thing of the past, a memory for those of us who grew up in the 90’s.

Hasting’s Warning To Investors

Reed Hastings, the CEO of Netflix, warned investors today not to get caught up in the “euphoria” of huge profits and gains. He warned that the market is still not a certain bet and cautioned investors to be careful when initiating or increasing positions.

Will Netflix Continue To Grow?

Only time will tell if Netflix will continue to remain at the top of the streaming video services list. Right now it is king of streaming and that crown may not be an easy one to maintain as competitors begin to emerge over the next few years.

Disclosure: The author has no position in the stocks mentioned in this article, and does not intend to initiate any position in the next 48 hours.