Potrero Capital Research Made the Right Call Betting on Tessera Technologies, Inc. (TSRA) & Other Stocks

Potrero trimmed its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 6% to 135,679 shares in the second quarter, reporting a $5.16 million stake in California-based cloud based learning and talent management company. The stock surged by 20.7% during the third quarter. At the end of the second quarter, a total of 27 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 17% from one quarter earlier. Of the funds tracked by Insider Monkey, Douglas Dossey and Arthur Young’s Tensile Capital had the largest stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD), worth close to $70 million, amounting to 17% of its total 13F portfolio. It was followed by by RGM Capital with a $60.7 million position. Other hedge funds and institutional investors with similar optimism encompassed Ken Griffin’s Citadel Investment Group, Glenn J. Krevlin’s Glenhill Advisors, and Dennis Puri and Oliver Keller’s Hunt Lane Capital.

Potrero loaded up on Wix.Com Ltd (NASDAQ:WIX) in the second quarter, boosting its position by 17% to 163,157 shares valued at $4.95 million at the end of June. The move paid off as the company’s stock jumped by 43.1% during the third quarter. Overall, heading into the third quarter, a total of 19 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 46% from the previous quarter. Among these funds, the largest stake in Wix.Com Ltd (NASDAQ:WIX) was held by Steadfast Capital Management, which reported holding $77.9 million worth of stock at the end of June. It was followed by Renaissance Technologies with a $36.5 million position. Other investors bullish on the company included EastBay Asset Management, Point72 Asset Management, and Two Sigma Advisors.

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