Billionaire Dan Loeb Sold Amazon and Microsoft but Bought This "Magnificent Seven" Stock
Dan Loeb is known as a mover and a shaker in the investing world. He founded the New York-based hedge fund Third Point in 1995. It now has roughly $11.5 billion in assets under management. Loeb's net worth stands at $3.3 billion, according to Forbes.
The activist investor did some moving and shaking in his hedge fund's portfolio in the fourth quarter of 2023. Loeb reduced his stakes in Amazon (NASDAQ: AMZN) and (NASDAQ: MSFT). However, the billionaire investor bought another "Magnificent Seven" stock.
Loeb sold 210,000 shares of Microsoft in Q4. While this reduced Third Point's stake in the tech giant by over 9.4%, Microsoft remains the second-largest holding in the hedge fund's portfolio.
Source Fool.com
Microsoft Corp. Stock
€391.65
0.120%
The stock is one of the favorites of our community with 100 Buy predictions and 2 Sell predictions.
With a target price of 411 € there is a slightly positive potential of 4.94% for Microsoft Corp. compared to the current price of 391.65 €.
