Steven Cohen Also Boosts Stake in Trulia Inc (TRLA); Now Holds 5.2%

Steven Cohen's SAC Capital Advisors has recently increased its exposure at Trulia Inc (NYSE:TRLA). According to a new filing with the SEC, SAC boosted its stake in the company to over 1.94 million shares, from just 66,300 shares disclosed as at the end of September. The position is passive by nature and amasses 5.2% of the company's common stock.

SAC CAPITAL ADVISORS

The move was disclosed by SAC, only a day after Ken Griffin's Citadel Investment Group also revealed surging its holding to a total of more than 2.5 million shares, from 49,600 shares held at the end of September. Citadel also holds a passive position in the company, which contains 6.5% of the company's stock. On December 17, Trulia announced that it will join the Real Estate Standards Organization, becoming an industry partner. Following this move, the vice president of industry services of Trulia will become a member of RESO's Board of Directors. The company has closed yesterday an offering, under the terms of which it planned to sell $200 million worth of 2.75% Convertible Senior Notes due 2020. The over allotment option involves another $30 million additional to the principal amount, the company said in a press release. The stock of Trulia has returned almost 90% since the beginning of the year, and it is hard to say what have sparkled the investors latest moves into buying the company's stock. In the latest round of 13F filings, Jericho Capital Asset Management, led by Josh Resnick, and Kerr Neilson's Platinum Asset Management also disclosed big positions in the company, owning around 811,700 shares, and 335,000 shares respectively. Last week, Mr. Cohen's fund also revealed raising significantly its position in Move Inc. (NASDAQ:MOVE). The fund currently holds close to 2.0 million shares, equal to 5.1% of the common stock, up from just some 2,000 shares mentioned in the latest 13F. Disclosure: none Recommended Reading: Claren Road Asset Management, QVT Financial Initiate Stakes in DHT Holdings Inc (DHT) Clinton Group Plans to Take The Wet Seal, Inc. (WTSL) Private; Picks Up the Stake Relational Investors Raises Holding in The Timken Company (TKR)
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