Priceline Group Inc (PCLN), Kate Spade & Co (KATE), TriNet Group Inc (TNET) Among Billionaire Chase Coleman’s New Picks

Tiger Global Management opened a new position in Kate Spade & Co (NYSE:KATE) during the first quarter consisting of 3.58 million shares valued at $119.41 million. The company also released its first quarter results on May 7, posting $0.03 in earnings per share, beating analysts’ consensus estimate of $0.02. The company’s revenue also beat estimates with close to $10 million. Kate Spade & Co (NYSE:KATE) is expected to perform better for the rest of the year, with analysts predicting earnings per share of $0.54 for fiscal year 2015. Several analysts have recently issued comments on the stock, with BBVA and BB&T giving the stock a “Buy” rating and price target of $35.00 while analysts at Oppenheimer gave the stock a “Market Outperform” rating, noting it was a valuation call. The consensus target price on the stock by seventeen analysts is $36.63, showing strong upside of nearly 50%, with 14 of the analysts giving the stock a “Buy” rating. There were a total of five billionaires invested in the stock as of March 31, with a total value of $336.39 million. Among them are John Griffin of Blue Ridge Capital and Julian Robertson of Tiger Management.

The last stock we’ll look at in this article is TriNet Group Inc (NYSE:TNET), in which Tiger Global Management opened a new position of 2.32 million shares valued at $81.68 million. The human resources company reported $0.35 in earnings per share for the first quarter, which was slightly above consensus estimates of $0.33. More impressively, TriNet Group Inc (NYSE:TNET) posted total revenue for the first quarter was $625.60 million, which demolished the consensus estimate of $145.60 million. That revenue was also 22.9% higher than what the company registered last-over-year. Hound Partners, led by Jonathan Auerbach also opened a large new position in Trinet during the first quarter.

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