5 Stocks to Sell According to Julian Robertson’s Tiger Management

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1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 89

Adobe Inc. (NASDAQ:ADBE) is a multinational computer software corporation that offers a wide range of products revolving around digital media and digital marketing solutions for enterprises and consumers. With a market capitalization of $296.66 billion, Adobe Inc. (NASDAQ:ADBE) is ranked first on our list of the 10 stocks to sell according to Julian Robertson’s Tiger Management.

Julian Robertson’s hedge fund had sold off all its shares within the company, reducing its stake in Adobe Inc. (NASDAQ;ADBE) by 100% at the end of the second quarter period of 2021.

For the second quarter of 2021, Adobe Inc. (NASDAQ:ADBE) reported earnings per share at $3.03, beating market estimates by $0.21. In addition to this, the company also reported quarterly revenues of $3.83 billion, an increase of 22.60% on a year-over-year basis, surpassing market estimates by $106.49 million. At the end of the second quarter of 2021, 89 hedge funds in the database of Insider Monkey held stakes worth $13.1 billion in Adobe Inc. (NASDAQ:ADBE) down from 107 in the preceding quarter worth $12.1 billion.

Out of the hedge funds being tracked by Insider Monkey, Fisher Asset Management is a leading shareholder in Adobe Inc. (NASDAQ:ADBE), with 6.2 million shares worth $3.63 million.

In its second-quarter 2021 investor letter, Richie Capital Group mentioned Adobe Inc. (NASDAQ:ADBE). Here is what the fund said:

Adobe Systems (ADBE – up 24.8%) – In the last 15 years, Adobe has transformed itself into a software behemoth, more than tripling its revenue since 2010. The company is famous for its namesake PDF-reader and photo-editing software Photoshop. However, ADBE sells a full suite of software products through a recurring subscription model. The company transitioned from selling boxed software to recurring subscriptions in 2013 and revenues have grown consistently since. The company achieved $13B in revenue in 2020 with 88% Gross Margins.”

You can also take a peek at the 10 Penny Stocks Redditors are Buying in August and 10 Best Small-Cap Stocks to Buy According to Hedge Funds.

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