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Steven Cohen Slashes Facebook, Amazon, Others in Prolific Selling

November 17, 2013 | About:
Sally Jones

Sally Jones

49 followers
Guru Steven Cohen is averaging a return of 21.15% over 12 months. The third quarter portfolio of SAC Capital Advisors, led by Steven Cohen, shows 1,749 stocks and a total value of $18.4 billion. The quarter-over-quarter turnover is 37%. Steven Cohen recently bought 465 new stocks, according to the GuruFocus update of Nov. 15, 2013. His third quarter selling was prolific as well.

Here are four high-impact reductions made by Steven Cohen in the third quarter of 2013, including Facebook Inc. Cohen slashed his FB position by 99.09% in the third quarter as eight other billionaires made new buys.

Facebook’s revenue for the third quarter of 2013 was $2.02 billion, up 60% from the same quarter a year ago at $1.26 billion. The company’s net income was $425 million (GAAP) for the third quarter, pulling up from a net loss of ($59 million) in the same quarter one year ago. Third quarter earnings were $0.17, up from ($0.02) in the third quarter of 2012.



Facebook Inc. (FB): Reduced

Impacts Portfolio: -0.67%

Current Shares: 45,170

Up 114% over 12 months, Facebook Inc. has a market cap of $120.31 billion; its shares trade with a P/E ratio of 120.90. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Steven Cohen reduced his position by 99.09%, unloading 4,923,486 shares at an average price of $37.21, for a gain of 31.7%.

The current share price is around $49.01, with a change from average up 32%.

Overall, Steven Cohen gained 102% on 12,303,350 shares bought at an average price of $24.22 per share. Selling, he gained 53% on 12,258,180 shares at an average price of $31.97 per share.

Check out all of the guru trades as of the third quarter and recent insider selling.

Track historical pricing, revenue and net income:

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Amazon.com Inc. (AMZN): Reduced

Impacts Portfolio: -0.87%

Current Shares: 152,613

Up 61% over 12 months, Amazon.com Inc. has a market cap of $168.98 billion; its shares trade with a P/E ratio of 1,295.60. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Steven Cohen reduced his position by 79.5%, unloading 591,793 shares at an average price of $298.09, for a gain of 23.8%.

The current share price is around $369.17, with a change from average up 24%.

Over a truly remarkable trading history, Steven Cohen gained 74% on 2,295,945 shares bought at an average price of $212.29 per share. Selling 2,143,332 shares at an average price of $243.14 per share, he made a gain of 52%.

Check out all of the recent guru trades and insider selling.

Track historical pricing, revenue and net income:

1384644993698.png

Continental Resources Inc. (CLR): Reduced

Impacts Portfolio: -0.93%

Current Shares: 5,133

Up 64% over 12 months, Continental Resources Inc., an oil and gas exploration and production company, has a market cap of $21.63 billion; its shares trade with a P/E ratio of 29.60. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Steven Cohen reduced his position by 99.74%, unloading 1,950,202 shares at an average price of $95.84 per share, for a gain of 21.5%.

The current share price is around $116.45, with a change from average up 22%.

Over a remarkable five-year history of only gains, Steven Cohen gained 48% on 3,390,878 shares bought at an average price of $78.70 per share. Selling 3,385,745 shares at an average price of $91.10 per share, he made a gain of 28%.

Check out all of the recent guru trades and insider activity.

Track historical pricing, revenue and net income:

1384644708821.png



Schlumberger NV (SLB): Reduced

Impacts Portfolio: -0.81%

Current Shares: 760,937

Up 32% over 12 months, Schlumberger NVhas a market cap of $122.45 billion; its shares trade with a P/E ratio of 19.30. The dividend yield is 1.30%.

Guru Action: As of Sept. 30, 2013, Steven Cohen reduced his position by 73.86%, unloading 2,143,202 shares at an average price of $82.16, for a gain of 13.2%.

The current share price is around $92.98, with a change from average up 13%.

Overall, Steven Cohen gained 24% on 6,606,305 shares bought at an average price of $75.25 per share. Selling 5,845,368 shares at an average price of $75.75 per share, he made a gain of 23%.

Check out numerous guru trades as of the third quarter and recent insider selling.

Track historical pricing, revenue and net income:

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Study Steven Cohen’s complete portfolio.



GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.2/5 (5 votes)

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