Billionaire Philippe Laffont is Selling These 5 Stocks

1. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 136

Mastercard Incorporated (NYSE:MA) is an American multinational financial services corporation that provides payment-related products and services worldwide. Philippe Laffont’s Coatue Management held 777,508 Mastercard Incorporated (NYSE:MA) shares in the fourth quarter of 2021, which it disposed of completely in Q1 2022. 

On July 26, Citi analyst Ashwin Shirvaikar lowered the price target on Mastercard Incorporated (NYSE:MA) to $415 from $453 and kept a Buy rating on the shares. The analyst expects “good” June quarter results from Mastercard Incorporated (NYSE:MA) and his estimates exceed Street consensus. While the aggregate spend environment “appears to remain encouraging” particularly for the richer demographic, there might be a potential spending slowdown in certain geographies. The analyst updated models to account for conservatism regarding the macro environment and future spend patterns.

Among the hedge funds tracked by Insider Monkey, 136 funds were bullish on Mastercard Incorporated (NYSE:MA) at the end of Q1, down from 144 funds in the last quarter. Charles Akre’s Akre Capital Management held the leading position in the company, with 5.85 million shares worth over $2 billion. 

Here is what Polen Global Growth Fund has to say about Mastercard Incorporated (NYSE:MA) in its Q1 2022 investor letter:

“We added to both Visa and Mastercard during the final quarters of 2021, based on the belief that both businesses were trading at attractive prices and poised to deliver double-digit returns over the next three to five years. Cross-border transactions–a highly profitable business segment for both companies–represent roughly 10% of Visa and Mastercard’s volumes and 25% of their gross revenues, so lockdowns have severely impacted this segment due to stifled travel. While it was impossible to know when people would begin traveling again, we accepted this reality with the belief that travel would eventually return. Both companies have commented that as soon as a country or geography reopens, cross-border volumes reignite, amplifying each business’s growth and profitability. We think these near- term headwinds have created an attractive long-term investment opportunity.”

You can also take a look at 9 Tech Stocks that Cathie Wood is Giving Up On and 10 New Stock Picks of Bruce Kovner’s Caxton Associates. 

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