In this article, we discuss the 5 stocks to sell according to Julian Robertson’s Tiger Management. If you want to see our detailed analysis of Robertson’s history, investment philosophy, and hedge fund performance, go directly to 10 Stocks to Sell According to Julian Robertson’s Tiger Management.
5. Mastercard Incorporated (NYSE:MA)
Number of Hedge Fund Holders: 156
Mastercard Incorporated (NYSE:MA), a multinational financial services company that provides transaction processing and other payment-related products and services. Ranked fifth on the list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, Mastercard Incorporated (NYSE:MA) has a market capitalization of $353.42 billion.
At the end of the second quarter of 2021, Tiger Management sold off its entire stake in Mastercard Incorporated (NYSE:MA), reducing its shares of the company to 0%.
On July 29, Mastercard Incorporated (NYSE:MA) released its quarterly earnings report for the second quarter of 2021, with reported earnings per share at $1.95, beating estimates by $0.20. The company also reported revenues of $4.53 billion, beating forecast estimates by $160.71 million. At the end of the second quarter of 2021, 156 hedge funds in the database of Insider Monkey held stakes worth $17.10 billion in Mastercard Incorporated (NYSE:MA), up from 154 the preceding quarter worth $17.09 billion.
On August 17, JPMorgan analyst Tien-tsin Huang raised the firm’s price target on Mastercard Incorporated (NYSE:MA) to $430 from $427 and kept an Overweight rating on the shares.
In the Q2 2021 investor letter of Qualivian Investment Partners, the fund mentioned Mastercard Incorporated (NYSE:MA). Here is what the fund said:
“Mastercard: Q2 revenue and EPS beat consensus estimates by 3.7% and 12% respectively. Operating margins also beat consensus by +240 bps. Gross domestic volume growth of +38.3% (+32.8% in constant currency) was buttressed by continued e-commerce strength and better in-store performance, while purchase volumes grew 41.8% (35.5% in constant currency). Cross border performance was strong, but durability remains uncertain given uncertainty arising from the Delta variant and its impact on travel and tourism. We believe Mastercard has a robust runway for growth given further travel recovery, new/existing partnerships, traction in digital payments, and ongoing economic recovery.”
4. DocuSign, Inc. (NASDAQ:DOCU)
Number of Hedge Fund Holders: 58
DocuSign, Inc. (NASDAQ:DOCU) is a California-based company that allows organizations and businesses to manage electronic agreements. Ranked fourth on the list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, DocuSign, Inc. (NASDAQ:DOCU) has a market capitalization of $53.58 billion.
Julian Robertson’s hedge fund reduced its stake in the company by 100% in the second quarter, completely selling off all its shares of DocuSign, Inc. (NASDAQ:DOCU)
For the second quarter of 2021, DocuSign, Inc. (NASDAQ:DOCU), reported earnings per share at $0.17, beating estimates by $0.09. The company also reported revenues of $342.21 million, an increase of 45.24% on a year-over-year basis and beating forecast estimates by $23.66 million. At the end of the second quarter of 2021, 58 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in DocuSign, Inc. (NASDAQ:DOCU), down from 60 in the preceding quarter worth $3.23 billion.
On September 3, Evercore ISI analyst Kirk Materne raised the firm’s price target on DocuSign, Inc. (NASDAQ:DOCU) to $320 from $285 and kept an Outperform rating on the shares.
Out of the hedge funds being tracked by Insider Monkey, Scotland-based investment firm Aubrey Capital Management is a leading shareholder of DocuSign, Inc. (NASDAQ:DOCU) with 34,600 shares worth more than $9.67 billion.
In the Q2 2021 investor letter of Carillon Tower Advisers, the fund mentioned DocuSign, Inc. (NASDAQ:DOCU). Here is what the fund had to say:
“DocuSign provides electronic signature solutions. The firm reported an excellent quarter and investors have appreciated the strong growth combined with the excellent margins the company has posted. DocuSign has a long runway of growth ahead and we believe that it remains in a favorable position to continue gaining market share from traditional manual and paper-based signature solutions.”
3. Caesars Entertainment, Inc. (NASDAQ:CZR)
Number of Hedge Fund Holders: 73
Formerly known as Eldorado Resorts, Inc., Caesars Entertainment, Inc. (NASDAQ:CZR) is one of the world’s most diversified hotel and casino entertainment company, based in Reno, Nevada. Ranked third on our list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, Caesars Entertainment, Inc. (NASDAQ:CZR) has a market capitalization of $23.98 billion.
With a 100% reduction in stakes in the second quarter, Tiger Management sold off all the shares it held of Caesars Entertainment, Inc. (NASDAQ:CZR).
The company released its quarterly earnings report for the second quarter of 2021 on August 3, with reported earnings per share at $0.93, beating market estimates by $1.08. Additionally, the company reported revenues of $2.50 billion, crossing estimates by $103.09 million. At the end of the second quarter of 2021, 73 hedge funds in the database of Insider Monkey held stakes worth $1.83 billion in Caesars Entertainment, Inc. (NASDAQ:CZR) down from 76 in the preceding quarter worth $1.52 billion.
On September 10, Cowen analyst Lance Vitanza raised the firm’s price target on Caesars Entertainment, Inc. (NASDAQ:CZR) to $125 from $120 and kept an Outperform rating on the shares.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 271
Amazon.com, Inc. (NASDAQ:AMZN) is a multinational company that specializes in e-commerce, cloud computing, digital streaming and artificial intelligence. Ranked second on the list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.73 trillion.
By the end of the second quarter, Tiger Management had reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) to 0, selling off all the shares it held of the company.
Amazon.com, Inc. (NASDAQ:AMZN) last released its earnings report on July 28, 2021, with reported earnings per share at $15.12, beating estimates of $12.22. The company also reported revenues of $113.08 billion, missing estimates by $2.01 billion. Earnings for the e-commerce giant are expected to grow by 29.57% in the coming year. There were 271 hedge funds in our database that held stakes in Amazon.com, Inc. (NASDAQ:AMZN) worth $60.49 billion in the second quarter of 2021, compared to 243 funds in the first quarter with total stakes amounting to approximately $50.4 billion.
Out of the hedge funds being tracked by Insider Monkey, Martyn Taylor’s Crake Asset Management is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 68,500 shares worth more than $235 billion.
In the Q2 2021 investor letter of L1 Capital, the fund mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the fund said:
“Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best positioned businesses globally, with its share price still not reflecting fair value.”
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.
