In this piece, we discuss the 10 Tech Stocks to Sell According to Billionaires.
Tech stocks have driven the market to the point where the S&P 500 technology sector now accounts for more than 39% of the index’s total market capitalization, its highest share on record and above the level reached during the 2000 internet bubble, according to a June 3, 2026, Reuters report.
Since the market’s March 2026 low, the tech sector has surged nearly 47%, more than double the S&P 500’s overall gain in that span, led by semiconductor names. Micron shares jumped 230% over that period, while Intel and Advanced Micro Devices each gained more than 160%. Matthew Maley, chief market strategist at Miller Tabak, warned that if the small group of tech stocks leading the rally falters, the broader indexes will follow, and the resulting money flows would inevitably reverse.
That concentration has left the market increasingly dependent on a narrow set of winners.
About 60% of S&P 500 constituents were trading above their 200-day moving averages as of early June 2026, below the roughly 73% level historically seen when the index hits new highs, according to Adam Turnquist, chief technical strategist at LPL Financial. David Lefkowitz of UBS Global Wealth Management noted that the largest companies are generating far higher returns than the average stock, and cautioned that portfolios should not carry too much exposure to the AI trade’s recent winners.
Against that backdrop, billionaires have been trimming stakes in several prominent tech names. With that, let’s jump to the list of tech stocks to sell according to billionaires.
Our Methodology
To curate our list for this article, we used Insider Monkey’s billionaire database, which tracks 107 billionaires and their holdings as of Q1 2026. Next, we identified tech stocks whose billionaire stakes declined more than 15% quarter-over-quarter (QoQ). We ranked the stocks in ascending order based on the QoQ decline in billionaire holdings.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10. MongoDB, Inc. (NASDAQ:MDB)
QoQ Decline in Billionaire Holdings: 52.82%
MongoDB, Inc. (NASDAQ:MDB) features on the list of tech stocks to sell according to billionaires, with billionaire holdings declining from around $4.23 billion in Q4 2025 to $1.99 billion in Q1 2026, a decrease of about $2.23 billion.
That sell-off has come even as Wall Street has grown steadily more bullish on MongoDB, Inc..
On June 8, 2026, BofA analyst Koji Ikeda raised the firm’s price target on MongoDB, Inc. to $450 from $390 while keeping a “Buy” rating, citing higher confidence in the demand environment and multiple expansion across the infrastructure software peer group.
That update followed a series of similar moves. On June 2, 2026, Tigress Financial analyst Ivan Feinseth raised the firm’s price target to $515 from $430 while maintaining a “Buy” rating. Feinseth said he sees a compelling multi-year upside opportunity for MongoDB, Inc. shares, pointing to the company’s leading modern, general-purpose database and emerging AI data platform.
On May 29, 2026, Scotiabank raised its price target to $395 from $310 while keeping an “Outperform” rating. The firm noted that Atlas’ growth in the first quarter was solid, and said recent performance was enough to show the engine is humming.
That same day, Wedbush analyst Daniel Ives raised his price target to $390 from $380 while maintaining an “Outperform” rating. Ives noted MongoDB, Inc. started the year strongly, with first quarter fiscal 2027 results featuring beats across the board, while the company raised its fiscal 2027 revenue guidance significantly as Atlas consumption continues to show strength heading into the second half of fiscal 2027, with growing integration into mission-critical applications.
MongoDB, Inc. is a data platform company. Its platform combines a globally distributed operational database with a set of data services that help development teams manage a growing range of application requirements.
9. Insight Enterprises, Inc. (NASDAQ:NSIT)
QoQ Decline in Billionaire Holdings: 53.44%
Insight Enterprises, Inc. (NASDAQ:NSIT) is among the tech stocks to sell according to billionaires. Billionaire stake decreased from roughly $190.36 million in Q4 2025 to $88.63 million in Q1 2026, a drop of about $101.73 million.
That exit has come even as Insight Enterprises, Inc. picks up analyst support and rolls out new offerings.
On June 1, 2026, Insight Enterprises, Inc. announced the launch of Insight Managed Exposure Defense, a new managed security service built to help organizations defend against what the company described as an unprecedented wave of AI-driven vulnerabilities tied to newer AI models. The offering is designed to let organizations move from vulnerability exposure to a protected environment without lengthy procurement cycles or disconnected vendor relationships.
Jason Rader, Chief Information Security Officer at Insight Enterprises, Inc., said the disclosure-to-weaponization window keeps shrinking and that most security teams cannot absorb a simultaneous patch wave across operating system, browser, and library tiers. He said the new service was built to absorb that operational load and keep the SOC watching.
The bundled service combines five capabilities: managed continuous threat exposure management, managed patch operations across systems, including Windows, Linux, and Cisco IOS, software supply chain and open source risk monitoring, software developer outsourcing for code remediation, and managed extended detection and response from a global SOC spanning the US, UK, India, and Manila.
That update followed news on May 27, 2026, when JPMorgan analyst Joseph Cardoso upgraded Insight Enterprises, Inc. to “Neutral” from “Underweight,” raising the firm’s price target to $105 from $80. Cardoso cited continued enterprise demand momentum and the return of cloud growth, saying the company’s accelerating cloud gross profit growth and elevated hardware backlog present a compelling opportunity for investors.
Insight Enterprises, Inc., founded in 1988 and headquartered in Chandler, Arizona, is a global solutions integrator providing IT hardware, software, cloud, and related services to enterprise customers. The company plays an important role in the AI PC and enterprise technology ecosystem by enabling organizations to deploy AI-optimized devices, including Copilot+ PCs, while supporting broader digital transformation initiatives through integrated infrastructure and cloud solutions.
8. Rapid7, Inc. (NASDAQ:RPD)
QoQ Decline in Billionaire Holdings: 57.28%
Rapid7, Inc. (NASDAQ:RPD) features on the list of tech stocks to sell according to billionaires. Billionaire stake decreased from roughly $195.91 million in Q4 2025 to $83.70 million in Q1 2026, a drop of about $112.22 million.
That decline has come alongside leadership changes and continued analyst skepticism about Rapid7, Inc.’s growth trajectory.
On June 1, 2026, DA Davidson analyst Rudy Kessinger raised his price target on Rapid7, Inc. to $6.50 from $5.25 while keeping an “Underperform” rating, following the company’s announcement that CEO Corey Thomas will transition to Executive Chairman, with Wael Mohamed stepping in as CEO effective immediately.
Kessinger noted that Mohamed is one of the board members nominated by activist investor Jana Partners as part of a cooperation agreement reached in March of last year. The analyst added that he continues to see negative annual run rate growth as likely for the foreseeable future, citing declines in Rapid7, Inc.’s VM business.
That update followed an earlier move from Barclays, which lowered its price target on Rapid7, Inc. to $6.50 from $8 last month while maintaining an “Underweight” rating after the company’s Q1 report. The Barclays analyst said Rapid7’s Q2 net new annual recurring revenue guidance came in below expectations, which the firm said warrants cuts to estimates.
Rapid7, Inc. is engaged in AI-powered managed cybersecurity operations. The company’s Rapid7 Command Platform integrates security data, enriching it with AI, threat intelligence, and innovation to reduce risk and disrupt attackers.
7. D-Wave Quantum Inc. (NYSE:QBTS)
QoQ Decline in Billionaire Holdings: 58.48%
D-Wave Quantum Inc. (NYSE:QBTS) is among the tech stocks to sell according to billionaires, with billionaire holdings falling from approximately $95.53 million in Q4 2025 to $39.67 million in Q1 2026, a decline of about $55.86 million.
Yet even as billionaires trimmed their stakes through the first quarter, Wall Street firms have been moving in the opposite direction, raising price targets and reiterating bullish ratings following D-Wave Quantum Inc.’s first-ever analyst day.
On June 15, 2026, Mizuho analyst Vijay Rakesh raised his price target on D-Wave Quantum Inc. to $35 from $29 while maintaining an “Outperform” rating, citing the analyst day presentation. Rakesh told investors that D-Wave extended its gate-based roadmap, targeting 10 logical qubits by 2030 and scaling to 100 by 2032, with prior targets still on track.
Mizuho said D-Wave Quantum Inc. continues to lead in annealing quantum computing.
That update followed a June 2, 2026, note from Rosenblatt, which maintained its “Buy” rating and $43.00 price target after D-Wave Quantum Inc.’s inaugural analyst day at the New York Stock Exchange. Management demonstrated both its quantum annealing and gate-based systems and detailed its product roadmap and financial targets, the firm added. Rosenblatt pointed to D-Wave’s ability to generate revenue from its annealing technology while developing what the firm called a competitive gate-based offering, noting the company operates both technologies.
The firm also cited the U.S. government’s recent $100 million investment in D-Wave Quantum Inc. as validation of both quantum approaches. The stock is down nearly 9% year-to-date.
D-Wave Quantum Inc. is engaged in developing and selling quantum computing systems, software, and services. It has an extensive product portfolio, which includes Advantage, Advantage 2, an open-source tool suite, and more. It also supplies a combination of quantum and classical computation resources.
6. Sezzle Inc. (NASDAQ:SEZL)
QoQ Decline in Billionaire Holdings: 58.83%
Sezzle Inc. (NASDAQ:SEZL) features on the list of tech stocks to sell according to billionaires. Billionaire stake declined from roughly $34.12 million in Q4 2025 to $14.04 million in Q1 2026, a decrease of about $20.07 million.
Yet while billionaire investors were cutting their stakes, Sezzle Inc.’s stock has rallied nearly 130% year-to-date, with Wall Street firms raising price targets multiple times on the back of strong quarterly results and new payment partnerships.
On June 2, 2026, B. Riley raised its price target on Sezzle Inc. to $141 from $117 while maintaining a “Buy” rating. The firm said the company has integrated with Knot’s CardSwitcher API, which automatically updates Sezzle’s virtual card as the preferred payment method across merchants, including Amazon (AMZN), Walmart (WMT), and Uber (UBER). B. Riley said the integration should improve checkout convenience and help drive top-of-wallet behavior among users, comparing it to similar integrations already in place at American Express (AXP) and PayPal (PYPL).
That update followed a strong Q1 from Sezzle Inc..
In early May, Northland raised its price target on Sezzle Inc. to $110 from $100 and kept an “Outperform” rating after strong gross merchandise volume and revenue growth in the quarter. Around the same time, Needham raised its price target to $122 from $94 while maintaining a “Buy” rating, citing an impressive beat-and-raise. Needham said strong gross merchandise volume growth, a higher take rate, and better-than-expected credit performance all contributed to the beat.
Sezzle Inc. is a technology-enabled payments company that primarily operates in the US and Canada. In addition, the company provides Long-Term Lending through collaboration with third-party lenders and Product Innovation.
5. Pony AI Inc. (NASDAQ:PONY)
QoQ Decline in Billionaire Holdings: 60.09%
Pony AI Inc. (NASDAQ:PONY) features on the list of tech stocks to sell according to billionaires, with billionaire holdings falling from about $238.68 million in Q4 2025 to $95.25 million in Q1 2026, a drop of roughly $143.43 million.
Not every billionaire has been selling, though.
On June 8, 2026, Cathie Wood added to ARK’s position in Pony AI Inc., buying 45,949 shares worth roughly $396,080 as the firm keeps building exposure to self-driving companies.
Even so, on May 27, 2026, Macquarie analyst Eugene Hsiao lowered his price target on Pony AI Inc. to $24 from $25 while keeping an “Outperform” rating, saying first-quarter revenue beat Macquarie’s estimate and Bloomberg consensus by roughly 60% on 400% robotaxi revenue growth and strong domain controller sales. Macquarie raised its 2026 fleet forecast but lowered the price target due to higher operating expenses.
Separately, Reuters reported on May 26, 2026, that Pony AI Inc. has not been affected by China’s safety review of autonomous driving, which followed a robotaxi outage involving Baidu’s Apollo Go in Wuhan.
CEO James Peng said the business has not been impacted and that Pony AI Inc. is pushing ahead with expansion into more cities. The company also raised its year-end robotaxi fleet target to 3,500 vehicles, from 1,700 currently and an earlier goal of 3,000, and now expects full-year robotaxi revenue to exceed 3.5 times 2025 levels, up from 3 times previously. Net loss widened to $53.5 million in the quarter from $37.4 million a year earlier.
Pony AI Inc. develops full-stack autonomous driving technology and artificial intelligence systems for vehicles. They are a global leader in operating commercial robotaxis and robotrucks, as well as in providing self-driving software/hardware solutions to major automakers and mobility networks.
4. Infosys Limited (NYSE:INFY)
QoQ Decline in Billionaire Holdings: 63.58%
Infosys Limited (NYSE:INFY) is among the tech stocks to sell according to billionaires. Billionaire stake decreased significantly from approximately $1.03 billion in Q4 2025 to $375.30 million in Q1 2026, a reduction of about $655.12 million.
Yet that selling pressure has come even as Infosys Limited continues to secure new business.
On June 16, 2026, Infosys Limited announced a long-term collaboration with Valmet, a technology provider serving the process industries. Under the deal, Infosys will modernize Valmet’s core IT services and deliver end-to-end IT transformation aimed at improving operational efficiency and aligning IT operations with business priorities.
The partnership centers on Valmet’s “Lead the Way” strategy. Infosys Limited plans to apply its industry expertise to cut operational costs, optimize existing resources, and support proactive management of Valmet’s enterprise-wide IT operations, while building what the companies described as a more resilient IT foundation.
To carry out the work, Infosys Limited will use Infosys Topaz Fabric, its agentic services suite, to add intelligence across IT operations with what the company calls a “human-in-the-loop” approach for governance and accuracy. Infosys will also tap Infosys Cobalt, its cloud platform, to build scalable and secure cloud foundations as part of the modernization push.
Arto Huuskonen, VP IT Transformation at Valmet, said the collaboration would help the company build a resilient, future-ready digital foundation and accelerate its transformation journey. Jasmeet Singh, EVP and Global Head of Manufacturing at Infosys Limited, said the partnership aims to accelerate innovation and create scalable impact aligned with Valmet’s long-term goals.
Infosys Limited is a global technology services and consulting company that helps businesses digitally transform their operations. It provides a wide range of services, including custom software development, artificial intelligence (AI) solutions, cloud computing, and IT outsourcing.
3. Pagaya Technologies Ltd. (NASDAQ:PGY)
QoQ Decline in Billionaire Holdings: 64.93%
Pagaya Technologies Ltd. (NASDAQ:PGY) features on the list of tech stocks to sell according to billionaires, with billionaire holdings declining from around $177.95 million in Q4 2025 to $62.40 million in Q1 2026, a decrease of about $115.55 million.
That selloff has not stopped Pagaya Technologies Ltd. from posting wins on both the analyst and capital markets fronts.
On June 15, 2026, Pagaya Technologies Ltd. announced the closing of an upsized $800 million AAA-rated personal loan ABS transaction, named PAID 2026-4. The deal drew 39 unique investors and brought Pagaya’s year-to-date personal loan ABS issuance to nearly $4 billion, marking the company’s third upsized personal loan ABS transaction this year.
The transaction also pushed Pagaya Technologies Ltd.’s total issuance since 2018 to $40 billion across 91 ABS deals, backed by more than 165 institutional investors spanning its personal loan, auto, and point-of-sale programs. Collateral for this latest deal included personal loans from new network partners Upstart and Achieve.
Sahil Chandiramani, Head of Capital Markets at Pagaya Technologies Ltd., said the upsizing of the company’s last two PAID transactions reflected the strength of its funding platform and the confidence institutional investors continue to place in its underwriting and asset performance. He added that the transaction expands Pagaya’s capacity to support existing and new lending partners as they grow.
That update followed news on June 10, 2026, when Texas Capital initiated coverage of Pagaya Technologies Ltd. with a “Buy” rating and a $27 price target. The firm described the company as an AI technology-enabled provider of consumer credit underwriting and capital markets solutions, and said its services business model should produce a better risk and reward profile for investors and rating agency stakeholders, calling the stock attractive at current levels.
Pagaya Technologies Ltd. is a fintech company that uses AI to help lenders approve and manage consumer credit.
2. NICE Ltd. (NASDAQ:NICE)
QoQ Decline in Billionaire Holdings: 65.15%
NICE Ltd. (NASDAQ:NICE) is among the tech stocks to sell according to billionaires. Billionaire stake fell from roughly $116.45 million in Q4 2025 to $40.58 million in Q1 2026, a drop of about $75.87 million.
That pullback came alongside a more cautious analyst view following a closer look at NICE Ltd.’s strategy.
On June 10, 2026, Wedbush lowered its price target on NICE Ltd. to $100 from $120 while keeping a “Neutral” rating on the shares. The call followed the firm’s attendance at NICE’s 2026 Investor Day at Nice World, where management outlined the company’s shift from a seat-based CCaaS provider toward an orchestrated CX-AI platform, with the recently acquired Cognigy now natively integrated into CXone.
CEO Scott Russell told investors the market opportunity is expanding rather than zero-sum, pointing to expanding personal and enterprise AI agents that are driving up interaction volumes, along with an on-premise customer base that has yet to migrate.
Wedbush said it came away more constructive on the platform vision and the AI monetization data presented at the event. Even so, the firm cited a persistent gap between that narrative and NICE Ltd.’s mid-single-digit reported revenue growth rates as the reason it remains on the sidelines.
Wedbush added that many questions still remain about growth and the AI challenges ahead, which it said warrant a lower multiple.
NICE Ltd. offers enterprise software solutions in the areas of financial crime compliance and customer engagement. The company leverages artificial intelligence (AI) to enhance the global customer experience, compliance, and operations.
1. Snap Inc. (NYSE:SNAP)
QoQ Decline in Billionaire Holdings: 77.57%
Snap Inc. (NYSE:SNAP) features on the list of tech stocks to sell according to billionaires. Billionaire stake dropped from approximately $840.62 million in Q4 2025 to $188.56 million in Q1 2026, marking a decline of about $652.05 million.
Even with that sharp decline, Snap Inc.’s latest product launch is drawing a notably split reaction on Wall Street.
On June 16, 2026, Snap Inc. debuted its Specs augmented reality glasses for both developers and consumers, priced at $2,195 per pair.
Following the launch, Rosenblatt kept a “Neutral” rating on Snap Inc. with a $6.40 price target in a note on June 17, 2026, saying it opens up a debate, since Snap’s co-founders believe the AR glasses will represent the next big wave of computing against what the analyst called a reasonably skeptical stance.
Rosenblatt said Specs may or may not work as a business, adding that expectations are low and that, at a minimum, there could be patent value.
B. Riley took a more upbeat view in a note on June 17, 2026, calling the Specs launch a positive medium-term development. The firm said the wearable-focused, developer-enabled platform could expand use cases across consumer and enterprise categories, though it noted the high initial pricing may limit early adoption. It said iterative improvements and potential cost reductions over time could drive broader traction, calling Specs a potentially transformative product that complements Snap Inc.’s core social platform and strengthens its position in next-generation human-computer interaction. B. Riley has a “Buy” rating and a $10 price target on the shares.
Snap Inc. is an American technology and social media company that develops and maintains technological products and services. The company’s core products include Snapchat, Lens Studio, and Spectacles.
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