Glaxis Capital All-In on These Two Stocks After Slashing Portfolio

#2 Facebook Inc (NASDAQ:FB)

– Shares Owned by Glaxis Capital (as of March 31): 36,780

– Value of Holding (as of March 31): $4.20 Million

After cutting the stake by 44% during the first quarter, Facebook Inc (NASDAQ:FB) represented 35.22% of Glaxis’ equity portfolio. Ken Fisher‘s Fisher Asset Management adopted a similar stance as it also reduced its Facebook holding by 18% to 256,520 shares during the same period. The stock has gained over 13% on year-to-date basis and recently reached an all time high following the announcement of first quarter results that saw revenues jump by 52% to $1.5 billion and net income tripling to $1.5 billion as compared to the same quarter last year. In addition to beating estimates on top and bottom lines, with EPS of $0.77 on revenue of $5.38 billion, versus estimates of $0.62 and $5.26 billion, respectively, Facebook also delivered better-than-expected monthly active users and mobile monthly active users figures. .

#1 Alphabet Inc (NASDAQ:GOOGL)

 – Shares Owned by Glaxis Capital (as of March 31): 5,504

– Value of Holding (as of March 31): $4.20 Million

Glaxis raised its stake in the $477 billion tech behemoth by 14% during the first trimester. So far this year, Alphabet Inc (NASDAQ:GOOGL)’s shares are down by 7%, on the heels of top and bottom line misses that characterized its first quarter financial results. The driving force behind this being the decline in ad prices. This has also led to a number of analysts, including Oppenheimer, Morgan Stanley and SunTrust Robinson Humphrey lowering their price target on Google’s stock. However, there was a silver lining in the quarterly earnings report as well in the form of a better-than-expected EBITDA, which shows that the management has been successful in cutting both OPEX and CAPEX. Sandy Nairn‘s Edinburgh Partners trimmed its stake in  Alphabet Inc (NASDAQ:GOOGL) by 4% during the January-March period to about 74,100 shares.

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