Atreides Management, LP, managed by Gavin Baker, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 224,104 shares.
Recent Updates on Alphabet Inc. Class A stock
Recent developments for Alphabet Inc. Class A (GOOGL) highlight strong Q4 2024 financial results, with annual revenue increasing by 14% to $350 billion, primarily driven by AI and cloud services advancements. Google Cloud revenue rose by 30%, and YouTube advertising grew by 14%, despite a 4% decline in network advertising revenue. Operating income and net income increased by 31% and 28%, respectively. The company plans to invest $75 billion in capital expenditures for AI and infrastructure in 2025, although potential revenue challenges due to currency fluctuations and the leap year effect are anticipated. The stock’s year-to-date price performance shows a slight decline of approximately 2-3%, with a market cap around $2,282.6 billion. Hedge funds have shown mixed interest, with some increasing and others reducing their positions.
More about Alphabet Inc. Class A
YTD Price Performance: -2.22%
Average Trading Volume: 28,719,287
Current Market Cap: $2278.6B