Billionaire investor
Stanley Druckenmiller is betting big on tech stalwarts and cybersecurity, but sold some of the IT industry s biggest names in the fourth quarter of 2020, according to a securities filing released Tuesday.
Druckenmiller s Duquesne Family Office reported a 13F filing that included $3,712,696,000 in managed 13F securities. The largest holding is Microsoft Corporation; the hedge fund holds 2,638,074 shares.
Duquesne sold all of its 278,372 shares of Netflix. The streaming giant made up 4.04% of the fund and the stake was valued at $139.1 million at the end of the third quarter.
The hedge fund also increased its bet on cybersecurity company Palo Alto Networks. . Druckenmiller s office increased its stake in Palo Alto Networks by 457%, adding shares estimated to be worth $335 million. Duquesne first started buying Palo Alto Networks in the third quarter of 2020.
KXLY
February 3, 2021 5:05 AM newsfeedback@fool.com (Robin Hartill, CFP)
Posted:
Updated:
If you’d bought $10,000 worth of
Netflix (NASDAQ: NFLX) stock a year ago, your investment would be worth $15,300 today. Had you put the same $10,000 investment into an
S&P 500 index fund, you’d now have about $11,500.
Netflix was clearly a winning stay-at-home stock in 2020. But people have been stuck at home watching TV for nearly a year. Surely we’ll all be eager to do something else as COVID-19 vaccines become widespread. Plus, practically everyone you know already subscribes to Netflix. There’s also growing streaming competition from rivals like Disney+ and
Share:
Netflix, Inc. (NASDAQ: NFLX) shares jumped more than 14% on Wednesday morning after the company reported better-than-expected subscriber growth in the fourth quarter and indicated it could launch a share buyback program.
Netflix reported $1.19 in adjusted fourth-quarter EPS, missing consensus analyst expectations of $1.39. However, the company’s $6.64 billion in revenue was slightly ahead of analyst estimates of $6.62 billion and represented 21.3% year-over-year growth.
Perhaps the biggest bullish catalyst for Netflix investors was the company’s subscriber growth. Netflix reported 8.5 million global paid net subscriber additions, far surpassing Wall Street’s 6.47 million estimate. Netflix’s total paid subscribers also surpassed 200 million for the first time.
Are These The Best Tech Stocks To Watch Right Now?
Throughout the pandemic, tech stocks have been the go-to stocks for investors in the stock market. This is because of the high returns that these stocks can bring. Rally after rally, tech stocks have shown no signs of stopping. The question is, will this momentum be carried over into 2021? Retrospectively, top tech stocks have had a great run. The same could not be said for other industries that were decimated by the coronavirus pandemic this year.
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