In this article, we will discuss the Jacob Rothschild’s RIT Capital Partners is selling these 5 stocks. If you want to read our detailed analysis of Rothschild’s history, investment philosophy, and hedge fund performance, go directly to the Jacob Rothschild’s RIT Capital Partners is Selling These 10 Stocks.
5. Frontdoor, Inc. (NASDAQ:FTDR)
Number of Hedge Fund Holders: 33
Frontdoor, Inc. (NASDAQ:FTDR) offers domestic service plans in the United States. It was founded in 1971, and it stands fifth on the list of Jacob Rothschild’s RIT Capital Partners is selling these 10 stocks. Frontdoor, Inc. (NASDAQ:FTDR) currently has a $3.52 billion market capitalization and was able to deliver a 2.02% return in the past 12 months.
In the second quarter, Frontdoor, Inc.’s (NASDAQ:FTDR) EPS came in at $0.76, beating the estimates by $0.13. Revenue in the period was $462 million, up 10.8% YoY, missing the market predictions by $3.9 million.
Hedge fund sentiment decreased for Frontdoor, Inc. (NASDAQ:FTDR) in the second quarter of 2021. Insider Monkey’s data shows that 33 hedge funds held stakes in the company in the second quarter, down from 36 funds a quarter earlier. The biggest stakeholder of the company is Rima Senvest Management, with 2.15 million shares, worth $107.27 million.
4. dMY Technology Group, Inc. III (NYSE:DMYI)
Number of Hedge Fund Holders: N/A
dMY Technology Group, Inc. III (NYSE:DMYI) was founded in 2020 by Niccolo de Masi and Harry You to achieve a merger, asset acquisition, capital share exchange, reorganization, share purchase or similar business combination with one or more businesses.
On September 30, IonQ, Inc., a pioneer in quantum computing, announced the closing of its previously announced merger with dMY Technology Group, Inc. III (NYSE:DMYI). In July, Benchmark analyst Mark Schappel initiated coverage of dMY Technology Group, Inc. III (NYSE:DMYI) with a “Buy” rating setting his price target at $18.
Israel Englander’s Millennium Management is the most significant shareholder of dMY Technology Group, Inc. III (NYSE:DMYI), with 1.58 million shares worth $16.86 million.
3. Coupang, Inc. (NYSE:CPNG)
Number of Hedge Fund Holders: 33
Coupang, Inc. (NYSE:CPNG) is a South Korean e-commerce firm headquartered in Seoul. The firm grew to become South Korea’s largest internet marketplace.
In the second quarter, Coupang, Inc.’s (NYSE:CPNG) EPS came in at -$0.30, missing the estimates by $0.16. However, revenue in the period was $4.48 billion, beating the forecast by $50 million. In August, Daiwa analyst Thomas Kwon upgraded Coupang, Inc. (NYSE:CPNG) to “Buy” from “Outperform.”
The most significant stakeholder of Coupang, Inc. (NYSE:CPNG) is MIC Capital Partners, with 1.29 million shares worth $54.10 billion. Coupang, Inc. (NYSE:CPNG) saw a decrease in hedge fund sentiment recently. The number of long hedge fund positions declined to 33 in the second quarter compared to 40 hedge fund in the previous quarter.
2. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 155
Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is an American global technological conglomerate holding corporation.
On September 17, Jefferies analyst Brent Thill raised his price target on Alphabet Inc. (NASDAQ:GOOG) to $3,325 from $3,150 and maintained a “Buy” rating on the shares.
There were 155 hedge funds in our database that held stakes in Alphabet Inc. (NASDAQ:GOOG) in the second quarter of 2021, compared to 159 funds in the previous quarter. Martin Taylor’s Crake Asset Management is the most significant shareholder of Alphabet Inc. (NASDAQ:GOOG) with 30,387 shares worth $76.16 billion.
Mawer Investment Management, an investment management firm, its second-quarter 2021 investor letter mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:
“Many higher growth companies reported strong results amid the pick-up in broad economic activity including Alphabet. These higher growth companies tend to have increased sensitivity to a change in discount rates and were supported as long-term interest rates stabilized over the period.”
1. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 146
Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational tech company.
On September 29, BofA analyst Eddie Leung lowered his price target on Alibaba Group Holding Limited (NYSE:BABA) to $254 from $285 and kept a “Buy” rating on the shares. The company confirmed a recent downturn in the e-commerce market in a business update call this week. Still, Leung tells investors in a research note that the company sees a possible comeback in the September and December quarters. On September 28, Alibaba Group Holding (NYSE:BABA) started payment services from Tencent Holdings Limited’s (OTC:TCEHY) WeChat on many of its applications after the government urged large internet businesses to cease restricting each other’s services.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Crake Asset Management is a leading shareholder in Alibaba Group Holding (NYSE:BABA) with 222,640 shares worth $50.49 billion. Hedge funds are loading up on Alibaba Group Holding (NYSE:BABA), as Insider Monkey’s data shows that 146 hedge funds held stake in the company in the second quarter of 2021, compared to 135 funds in the previous quarter.
In its second-quarter 2021 investor letter, RV Capital Management mentioned Alibaba Group Holding (NYSE:BABA). Here is what the fund said:
“The most consequential capital allocation decision in the first half-year was to increase our investment China by purchasing a new position in Alibaba.
I wrote about China in my 2019 half-year letter but given the heightened pessimism in the West today around China, I thought it was worth updating you on my thinking before getting to the discussion of our new investment in Alibaba.
I am conscious that the segue from a discussion on humility to one on China may be jarring. There are, for sure, many people better placed than me to discuss China. I hope, though, that there is value in the perspective of an informed outsider who has invested through several market panics in the past.…” (Click here to see the full text)
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