NEW YORK ( TheStreet) -- Netflix ( NFLX) had a rough year in 2011. The embattled video streaming firm saw shares tumble more than 75% after a series of blunders including mishandling a subscription price hike and confusing consumers with plans to split up the company's DVD-by-mail and subscription businesses. CEO Reed Hastings, who took a $1.5 million pay cut after the company's turbulent year, was also named the worst CEO of the year by readers of TheStreet.
Netflix CEO Reed Hastings
It may come as little surprise, then, that several high-profile hedge funds, including SAC Capital and Renaissance Technologies, reduced their stakes in Netflix during the fourth quarter. Here's a roundup of high-profile hedge fund managers who added to -- or decreased -- their positions in Netflix at the end of 2011. John Griffin, Blue Ridge Capital-- Blue Ridge, the biggest hedge fund holder of Netflix stock, with 2.4 million shares, added 337,000 shares to its position during the fourth quarter. John Thaler, JAT Capital Management -- The $3 billion global long-short hedge fund sold a whopping 1.9 million shares of Netflix to bring its position to 756,884. Barry Rosenstein, Jana Partners -- The activist hedge fund bought a new stake in Netflix, acquiring over 648,000 shares. James Simons, Renaissance Technologies -- The quant hedge fund sold 1.2 million shares of Netflix. It now holds 166,900 shares. Phil Gross, Adage Capital Partners -- The Boston-based firm added 19,000 shares during the quarter to end the year with 67,000 shares of the video streaming company. Steven Cohen, SAC Capital -- The Stamford, Conn.-based SAC reduced its stake in Netflix by over 594,00 shares, leaving the firm with 17,512 shares. David Shaw, D.E. Shaw--The hedge fund giant sold all of its 557,765 shares during the fourth quarter. --Written by Olivia Oran in New York. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: email@example.com.