A look back at last week's biggest calls.
Some of the most prominent U.S. investors have unveiled their stock transactions from the past three months. These disclosures came through 13-F filings, which U.S. funds with assets exceeding $100 million are required to submit each quarter to the Securities and Exchange Commission.
[.custom-color]Michael Burry[.custom-color], the guy whom Christian Bale played in The Big Short, filed for his Scion Asset Management fund. Here's a breakdown:
So he's been doubling down on Chinese stocks, adding 30,000 shares of Alibaba, bringing it to $11.2 million.
Burry also looks like he is restructuring a bit, taking new positions across multiple industries, including financial services, healthcare, and commercial real estate. Notable new stakes include investments in Shift4 Payments, Molina Healthcare Inc., and Hudson Pacific Properties Inc., each valued at over $5.5 million. The firm also expanded its portfolio with new positions in Olaplex Holdings Inc. and BioAtla Inc.
[.custom-color]Warren Buffet[.custom-color]has also posted Berkshire Hathaway's holdings:
While Apple is still his top holding, he has reduced his position by a massive 50%. He has also unloaded nearly $1 billion in cloud company Snowflake. This leaves Berkshire with a cash pile of $227 billion. It's very possible that he could be anticipating prices will drop soon.
However, he did spot some opportunities that he liked, most notably Ulta Beauty and aerospace manufacturer Heico.
[.custom-color]Bill Ackman’s Pershing[.custom-color] Square also filed a return which showed new stakes in Nike and Brookfield while cutting Chipotle Mexican Grill by 23 percent. Nike has seen its share price fall nearly 22% year to date, and Ackman may see this as a buying opportunity. If you're wondering what has gone wrong at Nike, Massimo Guinco wrote a masterly long-read breakdown of what's been going wrong at the company.
Outside of 13-F filings, there were a few interesting analyst calls:
[.custom-color]Robinhood[.custom-color] was described as having "exceptionally attractive" growth potential by Deutsche Bank. They set a price target of $24 for the stock, representing a 20% upside over its current value and upgraded it to a Buy. They see both near- and long-term growth driven by solid revenue growth and solid cost control. They also think the company could become less dependent on cryptocurrency, with growth in equities, options, and general investing.
Piper Sandler also upgraded it to a $24 price target, while Cathie Wood also bought 46,000 shares in the company last week.
[.custom-color]Sportradar[.custom-color], the sports betting technology company, was upgraded by Jefferies to a Buy with a price target of $16, representing a 45% upside over its current value. They say it has made "notable progress" in demonstrating the durability of its business model. The prediction is also grounded in the projection that the industry will grow by more than 30% and that Sportradar will outpace the industry through 2025 and beyond.
[.custom-color]Starbucks[.custom-color] was upgraded by several firms on its appointment of new CEO Brian Niccol, who comes over from Chipotle. Its share price has already jumped 24% on the news, but Evercore ISI thinks it could go as high as $120, up from $94 currently.