Top 5 Stocks Billionaire Daniel Loeb Just Bought

Third Point has traded in and out of Microsoft Corporation (NASDAQ:MSFT) at multiple points over the past few years, selling off its most recent Microsoft position of 600,000 shares during the fourth quarter of 2019. Third Point is a Microsoft shareholder again after buying 1.1 million shares of the tech giant during Q3.

Microsoft ranked second on Insider Monkey’s list of the 30 Most Popular Stocks Among Hedge Funds in Q2, with 27% of the hedge funds we track being long MSFT shares. Microsoft has been one of the many tech companies to benefit from the shift to remote work in the pandemic era, which has provided a sizable boost to its cloud computing operations. Microsoft showcased impressive operational performance in its fiscal Q1 2021 results, topping estimates across all metrics as well as its own revenue guidance across all segments of the company. MSFT shares have gained 35% in 2020.