Billionaire Stanley Druckenmiller Just Dumped These 5 Stocks

1. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Shareholders: 82

Topping the list is Intuit Inc. (NASDAQ:INTU), which was the most valuable holding sold off by Stanley Druckenmiller’s firm during Q4 2021. The family office sold all 87,149 shares it owned on September 30, which were valued at $47.02 million at that time.

In contrast, the hedge fund ownership of Intuit Inc. (NASDAQ:INTU) jumped by 28% during the quarter. Thus far, Druckenmiller appears to have had the right idea, as shares of the financial software and services company have slid by 24% in 2022.

Intuit Inc. (NASDAQ:INTU) shares have partly been done in this year by the flight from growth stocks and especially fintech stocks due to rising interest rates. And despite a 52% jump in its fiscal Q1 2022 revenue, its full-year guidance calls for a more modest 26% to 28% jump even when factoring in the company’s recent $12 billion acquisition of Mailchimp.

That doesn’t appear to be cutting it with investors right now given the 53x free cash flow premium that the stock was trading at towards the end of last year. Druckenmiller too has decided to look elsewhere for more promising near-term investments.

You can also take a peek at the 10 Stocks to Invest In According to Bart Baum’s Ionic Capital and Billionaire Andreas Halvorsen Is Selling These 10 Stocks.

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