Here’s Why Baron Funds Disposed its Shift4 Payments (FOUR) Position

Baron Funds, an asset management firm, published its “Baron FinTech Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.53% was delivered by the fund’s institutional shares for the fourth quarter of 2021, compared to its benchmarks, the S&P 500 Index, which appreciated 11.03%, and the FactSet Global FinTech Index which rose 7.68% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron FinTech Fund, in its Q4 2021 investor letter, mentioned Shift4 Payments, Inc.  (NYSE:FOUR) and discussed its stance on the firm. Founded in 1999, Shift4 Payments, Inc.  (NYSE:FOUR) is an Allentown, Pennsylvania-based payment processing company with a $3.2 billion market capitalization, and is currently spearheaded by its CEO, Jared Isaacman. Shift4 Payments, Inc.  (NYSE:FOUR) delivered a -10.39% return since the beginning of the year, while its 12-month returns are down by -45.51%. The stock closed at $51.91 per share on March 15, 2022.

Here is what Baron FinTech Fund has to say about Shift4 Payments, Inc.  (NYSE:FOUR) in its Q4 2021 investor letter:

“During the quarter, the Fund initiated three new positions and exited five positions. Below we discuss some of our top net purchases and sales. We also sold Shift4 Payments, Inc. at what we felt was a full valuation due to concerns about slowing growth and increasing competition in its end markets.”

Our calculations show that Shift4 Payments, Inc.  (NYSE:FOUR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Shift4 Payments, Inc.  (NYSE:FOUR) was in 30 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 32 funds in the previous quarter. Shift4 Payments, Inc.  (NYSE:FOUR) delivered a -1.09% return in the past 3 months.

In March 2022, we published an article that includes Shift4 Payments, Inc.  (NYSE:FOUR) in the 11 Earnings Reports You Don’t Want to Miss. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.