SAC Capital Advisors LP, the $14 billion hedge fund run by
Steven A. Cohen, joined other investors in boosting stakes in Facebook Inc.
during the fourth quarter, as the company took steps to bring in more revenue,
Bloomberg told us..
SAC Capital increased its holding in Facebook by 7.99
million shares, bringing its stake to 8.5 million shares, worth $242.1 million,
according to a filing yesterday. D.E. Shaw & Co., the New York-based hedge
fund that uses computer models to pick trades, increased its stake by 7.58
million to 7.8 million, or $222.3 million.
Facebook has climbed more than 50 percent from a record low
in September, as the company assuaged concerns over revenue growth and weak
mobile advertising that sent the shares to half of their May initial offering
price of $38 apiece. Mobile-ad sales made up 23 percent of ad revenue during
the fourth quarter, up from 14 percent in the previous period.
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