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Third Point Exits Alibaba, Fidelity

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·4 min read
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- By Tiziano Frateschi

Daniel Loeb (Trades, Portfolio)'s Third Point, LLC sold shares of the following stocks during the first quarter of 2021, which ended on March 31.


Alibaba

The guru closed the position in Alibaba Group Holding Ltd. (BABA), impacting the portfolio by -2.51%.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The online and mobile commerce company has a market cap of $577.72 billion and an enterprise value of $546.88 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 17.52% and return on assets of 10.13% are outperforming 80% of companies in the retail, cyclical industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 3.24 is above the industry median of 0.54.

The largest guru shareholders of the company include Baillie Gifford (Trades, Portfolio) with 0.98% of outstanding shares, PRIMECAP Management (Trades, Portfolio) with 0.56% and Ken Fisher (Trades, Portfolio) with 0.51%.

Fidelity

The guru's Fidelity National Information Services (FIS) position was closed, impacting the portfolio by -2.33%.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The company, which provides record-keeping and other services to investment firms, has a market cap of $92.89 billion and an enterprise value of $111.31 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -0.47% return on assets of -0.28% are underperforming 60% of companies in the software industry. Its financial strength is rated 4 out of 10 with a cash-debt ratio of 0.05.

The largest guru shareholder of the company is Andreas Halvorsen (Trades, Portfolio) with 1.55% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 0.48% and Pioneer Investments (Trades, Portfolio) with 0.36%.

Adobe

The firm closed its position in Adobe Inc. (ADBE). The trade had an impact of -1.75% on the portfolio.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The company, which operates digital media content creation, digital experience for marketing solutions and publishing for legacy products, has a market cap of $237.96 billion and an enterprise value of $237.71 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 46.48% return on assets of 24.31% are outperforming 96% of companies in the software industry. Its financial strength is rated 7 out of 10 with a cash-debt ratio of 1.05.

Other notable guru shareholders of the company include Fisher with 1.25% of outstanding shares, Spiros Segalas (Trades, Portfolio) with 0.56% and Steve Mandel (Trades, Portfolio) with 0.55%.

Salesforce.com

The guru exited the position in Salesforce.com Inc. (CRM), impacting the portfolio by -1.54%.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The company, which provides enterprise cloud computing solutions, has a market cap of $208.27 billion and an enterprise value of $202.58 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 10.79% and return on assets of 6.97% are outperforming 64% of companies in the software industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.91 is above the industry median of 2.93.

The largest guru shareholders of the company include Fisher with 1.41% of outstanding shares, Gifford with 0.59% and Segalas with 0.34%.

Planet Fitness

The firm exited its position in Planet Fitness Inc. (PLNT), impacting the portfolio by -1.38%.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The U.S. franchisor and operator of fitness centers has a market cap of $6.90 billion and an enterprise value of $8.39 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on assets of -0.98 is outperforming 60% of companies in the travel and leisure industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.23 is below the industry median of 0.46.

The largest guru shareholders of the company include Ron Baron (Trades, Portfolio) with 0.92% of outstanding shares, Pioneer Investments (Trades, Portfolio) with 0.19% and Paul Tudor Jones (Trades, Portfolio) with 0.04%.

Expedia Group

The guru closed the position in Expedia Group Inc. (EXPE), impacting the portfolio by -1.22%.

Third Point Exits Alibaba, Fidelity
Third Point Exits Alibaba, Fidelity

The online travel agency has a market cap of $25.59 billion and an enterprise value of $32.68 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of -106.22% and return on assets of -9.21% are underperforming 93% of companies in the travel and leisure industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.49 is above the industry median of 0.46.

The largest guru shareholder of the company is Steven Cohen (Trades, Portfolio) with 0.53% of outstanding shares, followed by Stanley Druckenmiller (Trades, Portfolio) with 0.30% and Louis Moore Bacon (Trades, Portfolio) with 0.03%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.