Frank Sands Invests in Stake in Amazon.com

Guru sells nearly all of stake in Twenty-First Century Fox

Nov 20, 2015

Sands Capital Management, the investment management company that was founded in 1992 by Frank Sands (Trades, Portfolio)’ father, emphasizes patience in its investment decisions, targeting exceptional growth businesses that the company expects to hold for a long time.

It is reasonable to think that Sands shares that approach, but it may be hard to imagine how much more Sands’ largest third-quarter acquisition can grow. That investment was a 1,745,554-share stake in Amazon.com Inc. (AMZN, Financial), a Seattle-based ecommerce company, for an average price of $505.62 per share. The purchase had a 2.49% impact on Sands’ portfolio.

Amazon.com has a market cap of $311.67 billion and an enterprise value of $305.48 billion. It has a P/E of 949.8, a forward P/E of 89.3, a P/B of 25.1 and a P/S of 3.1. GuruFocus has given Amazon.com a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.

Amazon.com sold for $665.44 per share Friday afternoon.

Sands also bought an 11,682,621-share stake in Mobileye NV (MBLY, Financial), a Jerusalem-based driver assistance systems company, for an average price of $54.93 per share. The deal had a 1.48% impact on Sands’ portfolio.

Mobileye has a market cap of $9.61 billion and an enterprise value of $9.43 billion. It has a P/E of 210.8, a forward P/E of 59.9, a P/B of 22.1 and a P/S of 49.5. GuruFocus has given Mobileye a Financial Strength rating of 8/10 and a Profitability and Growth rating of 3/10.

Sands is Mobileye’s leading shareholder among the gurus with 11,682,621 shares in his portfolio. Steve Mandel (Trades, Portfolio), Ron Baron (Trades, Portfolio), Jana Partners (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Chuck Royce (Trades, Portfolio) have shares of Mobileye in their portfolios.

Friday afternoon Mobileye sold for $44.46 per share.

Sands reduced his stake in Twenty-First Century Fox Inc. (FOXA, Financial), a New York-based mass media company, by more than 99%. Sands sold 22,208,146 shares for an average price of $29.89 per share. The transaction had a -1.78% impact on Sands’ portfolio.

Twenty-First Century Fox has a market cap of $59.35 billion and an enterprise value of $73.51 billion. It has a P/E of 8.1, a forward P/E of 16, a P/B of 4 and a P/S of 2.3. GuruFocus has given Twenty-First Century Fox a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

Twenty-First Century Fox sold for $30.07 per share Friday afternoon.

Sands sold nearly 45% of his stake in Schlumberger Ltd. (SLB, Financial), an oilfield services and equipment company with offices in Paris, Houston, London and the Netherlands. The guru sold 6,998,198 shares for an average price of $79.17 per share in a deal that had a -1.48% impact on his portfolio.

Schlumberger has a market cap of $97.45 billion and an enterprise value of $103.33 billion. It has a P/E of 29.2, a forward P/E of 28.1, a P/B of 2.6 and a P/S of 2.4. GuruFocus has given Schlumberger a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

Friday afternoon Schlumberger sold for $77.27 per share.

Sands reduced his stake in Nike Inc. (NKE, Financial), an Oregon-based apparel and accessories company, by more than 30%. Sands sold 4,027,429 shares for an average price of $113.11 per share. The transaction had a -1.07% impact on Sands’ portfolio.

Nike has a market cap of $112.52 and an enterprise value of $108.32 billion. It has a P/E of 33.4, a forward P/E of 30.2, a P/B of 8.8 and a P/S of 3.8. GuruFocus has given Nike a Financial Strength rating of 7/10 and a Profitability and Growth rating of 9/10.

Nike sold for $132.19 per share Friday afternoon.

Sands increased his stake in Illumina Inc. (ILMN, Financial), a San Diego-based biotechnology company, by more than 63%. Sands bought 1,682,627 shares for an average price of $208.03 per share in a deal that had a 0.83% impact on his portfolio.

Illumina has a market cap of $25.45 billion and an enterprise value of $25.12 billion. It has a P/E of 50.7, a forward P/E of 45.1, a P/B of 13.2 and a P/S of 12.1. GuruFocus has given Illumina a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Friday afternoon Illumina sold for $173.73 per share.

Sands sold four stakes in his portfolio in the third quarter. The most noteworthy was the sale of his 11,661,425 shares of Southwestern Energy Co. (SWN, Financial), a Houston-based oil and natural gas company, for an average price of $17.37 per share. The transaction had a -0.65% impact on his portfolio.

Southwestern Energy has a market cap of $3.46 billion and an enterprise value of $8.11 billion. It has a forward P/E of 23.6, a P/B of 0.8 and a P/S of 1.0. GuruFocus has given Southwestern Energy a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.

PRIMECAP Management (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Jim Simons (Trades, Portfolio), Richard Snow (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Southwestern Energy in their portfolios.

Southwestern Energy sold for $9.05 per share Friday afternoon.

To view the portfolios of more gurus, visit the List of Gurus page. Not a premium member of GuruFocus? Try it free for 7 days.

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