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Stanley Druckenmiller Likes Halliburton Company (HAL), Says Goodbye to Alibaba Group Holding Ltd. (BABA), Amazon.com, Inc. (AMZN)

Software provider Aspen Technology, Inc. (NASDAQ:AZPN) was Duquesne Family Office’s second biggest tech purchase during the fourth quarter, as the fund bought 207,900 shares of the company worth $11.4 million. Israel Englander‘s Millennium Management was also bullish on the stock, taking a new position of 156,126 shares valued at $8.5 million. Aspen Technology, Inc.(NASDAQ:AZPN) reported adjusted earnings of $0.52 per share for the fourth quarter, beating the consensus of $0.46. Revenue of $119.9 million also beat the consensus estimate of $118.33 million. The stock is up by 4% in the 2017 and trades near its 52-week high of ~$57.

 

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Duquesne Family Office sold its entire stake of 470,000 shares of Alibaba Group Holding Ltd. (NYSE:BABA) during the fourth quarter. Alibaba Group Holding Ltd. (NYSE:BABA) is the world’s second-largest online retailer with a market value of $249 billion. The stock has risen sharply in 2017, by 14%, and has returned 65% over the last year. The company is the dominant online player in China, with the greatest number of Internet users and is expanding rapidly in the digital payments and financial services industries. Out of the 42 analysts covering the stock, 35 have rated it as a ‘Buy’, while their average target price of $126 implies that the stock is expected to appreciate by another 26%. Citadel Advisors also sold off its stake in the Chinese online giant during the fourth quarter, which had consisted of 1.69 million shares on September 30.

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Lastly, Druckenmiller’s firm sold off its 35,800 shares of Amazon.com, Inc. (NASDAQ:AMZN) during the year-end quarter. Viking Global also pared its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.3 million shares during the fourth quarter, lowering it to 1.62 million shares by the end of December. The online retail leader has returned a hefty 66% over the last year and currently has a market capitalization of $405 billion. The company plans to allow phone calling through its Echo line of products later this year, which should further strengthen its engagement with customers. Amazon.com, Inc. (NASDAQ:AMZN) is rapidly expanding in India and has committed a war chest of $5 billion to take on the market leader there, Flipkart.

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Disclosure: None