5 Stocks to Sell According to Chase Coleman’s Tiger Global

In this article, we discuss 5 stocks to sell according to Chase Coleman’s Tiger Global. If you want to see more stocks that were sold recently by the fund, click 10 Stocks to Sell According to Chase Coleman’s Tiger Global. 

5. Dynatrace, Inc. (NYSE:DT)

Number of Hedge Fund Holders: 43

Dynatrace, Inc. (NYSE:DT) is a Massachusetts-based company that operates a software intelligence platform for multi-cloud work environments. Chase Coleman added Dynatrace, Inc. (NYSE:DT) to his portfolio in the third quarter of 2019, and in Q4 2021, the billionaire owned a $30 million stake in the company. In Q1 2022, Tiger Global disposed of his position in Dynatrace, Inc. (NYSE:DT) completely. 

JMP Securities analyst Erik Suppiger on May 20 slashed the price target on Dynatrace, Inc. (NYSE:DT) to $50 from $80 to account for a “sharp compression” in market multiples but maintained an Outperform rating on the shares after its Q1 earnings beat. The analyst also cited the company extending its relationship with Deloitte, which represents a “key catalyst” for Dynatrace, Inc. (NYSE:DT) since it can use Deloitte as a stepping stone to pursue further partnerships with other global companies.

According to the database of Insider Monkey, 43 hedge funds held bullish positions in Dynatrace, Inc. (NYSE:DT) at the end of March 2022, with collective stakes worth $1.74 billion. Gabriel Plotkin’s Melvin Capital Management held a leading position in the company, comprising 7.2 million shares worth $342.6 million. 

Here is what U.S. SMID Company Growth Fund has to say about Dynatrace, Inc. (NASDAQ:DUOL) in its Q3 2021 investor letter:

“Dynatrace outperformed during the quarter as the company reported earnings results that handily beat expectations. The company continues to increase its customer base and has expanded net revenues with existing customers.”