Dallas, Texas 08/15/2014 (FINANCIALSTRENDS) – Facebook Inc (NASDAQ:FB) the social networking network in evolution, definitely has the rich and the mighty behind it in terms of investments this time around.
Tiger Management, in recent times has been noted for its ability to add value to its holding and shed non-performing stocks.
Therefore, there is more than thought which can be spent on the recent filing by Tiger Management before the Securities Exchange Commission, for the June quarter.
The highlight of the filing was that of the top stocks held by the company, Facebook Inc (NASDAQ:FB) was in the Top 5. Tiger’s other top 4 stocks include- Gilead Sciences Inc, Tableau software Inc, Delta Air Lines, Inc besides Google Inc.
Perhaps what this implies for Facebook is that its current valuation is in line with actuals.
Additionally, Tiger Management was found to raise its stake in its top stocks as well as Citigroup and Pandora. Yes Tiger Management holds stake in Pandora and has now purchased additional 39,600 shares.
Riding on the increase in investment in these stocks, the company reversed its investment in two other stocks, such as Delta Air Lines as well as Valero Energy.
Tiger Management was found to make some big moves in other stock as well. This included the exit of Himax Technologies, Inc through the sale of 1.1 million options in the exit position.
Facebook Inc (NASDAQ:FB) was also found to sell its option in eBay Inc at the rate of 312,300 shares with all of the options in the range of 317,700 shares in MetLife Inc.
As investment funds such as Tiger Management increase or decrease their stake, there is corresponding investor action by retail stock players as well. Therefore, stock investment action of big players as Tiger Management continues to hold sway in the investment world!