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Feb. 16, 2021, 5:44 p.m. EST

Third Point opens Alphabet, Intel stakes, while trimming Amazon and other tech names

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By Wallace Witkowski

Daniel Loeb’s Third Point Management bought into a nearly half-a-billion-dollar stake of Google parent Alphabet Inc. and a new position of chip maker Intel Corp. while trimming stakes in other tech names like Amazon.com, Inc.. Salesforce.com Inc., and Alibaba Holding Group Ltd., according to a Securities and Exchange Commission late Tuesday.

The hedge fund added a 260,000-share stake of Alphabet /zigman2/quotes/205453964/composite GOOG +0.90% /zigman2/quotes/202490156/composite GOOGL +0.90% and a 1 million-share stake in Intel /zigman2/quotes/203649727/composite INTC +1.80% , while trimming its stakes in Amazon /zigman2/quotes/210331248/composite AMZN +2.21% by 29%, Salesforce /zigman2/quotes/200515854/composite CRM +3.04% by 37%, Alibaba /zigman2/quotes/201948298/composite BABA -2.16% by 45%, Adobe Inc. /zigman2/quotes/200389143/composite ADBE +0.84% by 29%, and Pinterest Inc. /zigman2/quotes/211319641/composite PINS -0.52% by 72%.

On the other hand, Third Point increased its stake in Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +1.03% by 18%, and more than tripled its stake in Intuit Inc. /zigman2/quotes/203136605/composite INTU +1.68% .

Other big moves included a new 1 million-share stake in Nike Inc. /zigman2/quotes/203439053/composite NKE +1.32% , a new 712,300-share stake in Dish Network Corp. /zigman2/quotes/207505872/composite DISH -0.77% , a 200,000-share stake in DoorDash Inc. /zigman2/quotes/222973991/composite DASH +9.65% , and a tripling of its stake in Planet Fitness Inc. /zigman2/quotes/203234487/composite PLNT -0.56%

/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 2,285.88
+20.44 +0.90%
Volume: 1.04M
April 9, 2021 4:00p
P/E Ratio
38.94
Dividend Yield
N/A
Market Cap
$1535.72 billion
Rev. per Employee
$1.35M
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/zigman2/quotes/202490156/composite
US : U.S.: Nasdaq
$ 2,270.67
+20.24 +0.90%
Volume: 1.31M
April 9, 2021 4:00p
P/E Ratio
38.68
Dividend Yield
N/A
Market Cap
$1535.72 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/203649727/composite
US : U.S.: Nasdaq
$ 68.26
+1.21 +1.80%
Volume: 27.18M
April 9, 2021 4:00p
P/E Ratio
13.81
Dividend Yield
2.04%
Market Cap
$277.98 billion
Rev. per Employee
$704,042
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,372.20
+72.90 +2.21%
Volume: 4.34M
April 9, 2021 4:00p
P/E Ratio
80.76
Dividend Yield
N/A
Market Cap
$1698.12 billion
Rev. per Employee
$297,430
loading...
/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 231.28
+6.83 +3.04%
Volume: 7.32M
April 9, 2021 4:00p
P/E Ratio
52.67
Dividend Yield
N/A
Market Cap
$213.01 billion
Rev. per Employee
$375,437
loading...
/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 223.31
-4.93 -2.16%
Volume: 19.76M
April 9, 2021 4:00p
P/E Ratio
26.33
Dividend Yield
N/A
Market Cap
$607.76 billion
Rev. per Employee
$622,130
loading...
/zigman2/quotes/200389143/composite
US : U.S.: Nasdaq
$ 504.04
+4.20 +0.84%
Volume: 1.89M
April 9, 2021 4:00p
P/E Ratio
43.84
Dividend Yield
N/A
Market Cap
$240.93 billion
Rev. per Employee
$571,371
loading...
/zigman2/quotes/211319641/composite
US : U.S.: NYSE
$ 85.53
-0.45 -0.52%
Volume: 8.57M
April 9, 2021 4:04p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$53.76 billion
Rev. per Employee
$665,092
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 255.85
+2.60 +1.03%
Volume: 24.33M
April 9, 2021 4:00p
P/E Ratio
38.10
Dividend Yield
0.88%
Market Cap
$1929.68 billion
Rev. per Employee
$877,393
loading...
/zigman2/quotes/203136605/composite
US : U.S.: Nasdaq
$ 417.61
+6.88 +1.68%
Volume: 1.00M
April 9, 2021 4:00p
P/E Ratio
63.16
Dividend Yield
0.57%
Market Cap
$114.36 billion
Rev. per Employee
$724,434
loading...
/zigman2/quotes/203439053/composite
US : U.S.: NYSE
$ 135.45
+1.77 +1.32%
Volume: 6.06M
April 9, 2021 4:00p
P/E Ratio
63.94
Dividend Yield
0.81%
Market Cap
$214.01 billion
Rev. per Employee
$496,286
loading...
/zigman2/quotes/207505872/composite
US : U.S.: Nasdaq
$ 37.56
-0.29 -0.77%
Volume: 2.83M
April 9, 2021 4:00p
P/E Ratio
12.49
Dividend Yield
N/A
Market Cap
$19.76 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/222973991/composite
US : U.S.: NYSE
$ 140.50
+12.36 +9.65%
Volume: 6.67M
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$45.17 billion
Rev. per Employee
$742,666
loading...
/zigman2/quotes/203234487/composite
US : U.S.: NYSE
$ 85.74
-0.48 -0.56%
Volume: 1.36M
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.42 billion
Rev. per Employee
$293,164
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