Hedge Fund Data Suggests GoPro Inc (GPRO) and Ambarella Inc (AMBA)’s Declines are Overreactions

Among the funds holding positions in GoPro Inc (NASDAQ:GPRO) at the end of the second quarter, Edward Gilhuly’s Sageview Capital topped the list, owning 2.30 million shares of the company, followed by Donald Chiboucis’ Columbus Circle Investors and Jim Simons’ Renaissance Technologies, which owned 1.01 million and 936,600 shares, respectively. Christopher A. Winham’s Tide Point Capital was among investors, that initiated new positions in GoPro Inc (NASDAQ:GPRO) during the second quarter, and reported 350,000 shares in its latest 13F. On the other hand, Valinor Management and Philippe Laffont’s Coatue Management sold out their entire stakes.

Moreover, 26 funds disclosed long positions in Ambarella Inc (NASDAQ:AMBA) with an aggregate value of $446.19 million, up from 23 funds with stakes worth $188.43 million a quarter earlier.

Coatue Management was the largest shareholder of Ambarella Inc (NASDAQ:AMBA) at the end of the second quarter, holding 1.01 million shares valued at $103.17 million. Eminence Capital and PDT Partners also held significant positions of 500,000 shares and 480,935 shares, respectively. Among investors with new positions, Cadian Capital and Marble Art Investments led the group, owning 470,000 shares and 230,000 shares, respectively.

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