Tiger Global Discusses Priceline, Charter, Q2 Performance

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#3 Priceline Group Inc (NASDAQ:PCLN)

– Shares Owned by Tiger Global Management LLC (as of June 30): 550,898

– Value of Holding (as of June 30): $710.08 Million

Moving on, Tiger Global increased its holding in Priceline Group Inc (NASDAQ:PCLN) by 36% during the second quarter. Shares of the online travel bookings company have remained range-bound for more than two years now. However, they are currently trading up by 11.08% in 2016. In its second quarter investor letter, Tiger Global mentioned that Priceline Group Inc (NASDAQ:PCLN) “benefits from low supplier concentration given the extremely fragmented hotel market globally and its relationships with over 800,000 hotels, vacation homes and urban residences.” Most analysts who cover the company share the same bullish views on it, owing to the rapid pace at which it is growing and the strong free cash flow it has been generating over the past several quarters. On August 18, analysts at Evercore ISI upgraded Priceline to ‘Buy’ from ‘Hold’ and also upped their price target on it to $1,650 from $1,360, which represents potential upside of 15.14%. Eduardo Costa‘s Calixto Global Investors initiated a stake in Priceline Group during the second quarter, purchasing 13,427 shares of the company.

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#2 Charter Communications, Inc. (NASDAQ:CHTR)

– Shares Owned by Tiger Global Management LLC (as of June 30): 1.96 Million

– Value of Holding (as of June 30): $396.96 Million

After increasing its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 181% during the first quarter, Tiger Global boosted it by a further 116% during the second quarter. In its investor letter, the fund mentioned that “Charter’s recently completed acquisition of Time Warner Cable will allow the company to implement its customer-focused strategy across Time Warner’s historically undermanaged business, resulting in meaningful improvements in revenue growth, EBITDA margins and free cash flow.” Tiger Global also revealed that based on the analysis it has done, the fund thinks that Charter Communications, Inc. (NASDAQ:CHTR)’s stock can double “in the next three to four years.” Shares of the cable giant recently experienced an upward surge after the company reported its second quarter financial results and are currently trading up by 11.09% year-to-date. Following the earnings release, analysts at Barclays reiterated their ‘Equal Weight’ rating on the stock on August 17, while upping their price target on it to $265 from $238, which represents potential upside of 5%. Stewart Strawbridge‘s Selkirk Management reduced its stake in the company by 4% to 50,000 shares during the second quarter.

#1 Amazon.com, Inc. (NASDAQ:AMZN)

– Shares Owned by Tiger Global Management LLC (as of June 30): 1.04 Million

– Value of Holding (as of June  30): $618.71 Million

An over 20% rise in its stock during the second quarter coupled with Tiger Global increasing its Amazon holding by 40% during the period pushed Amazon.com, Inc. (NASDAQ:AMZN) to the top spot in the fund’s portfolio at the end of June, from fourth at the end of March. Amazon.com, Inc. (NASDAQ:AMZN)’s stock has continued its rally in the third quarter and is currently trading up by 9.26% year-to-date. Led by the continued growth of its cloud platform AWS, Amazon.com again reported better than expected quarterly results recently. Although most analysts expect that AWS will continue its rapid growth, some are concerned that Microsoft Corporation (NASDAQ:MSFT)’s upcoming Azure Stack might prove to be tough competition to AWS and could snatch some of the latter’s market share. On August 16, Amazon.com’s Twitch division acquired Curse, a tech and multimedia company that focuses on content and products specifically for gamers, for an undisclosed sum of money. Currently, Amazon.com’s stock sports an average rating of ‘Buy’ and an average price target of $885.89 from the 43 leading analysts and research firms on Wall Street who track it. Billionaire Ken Fisher‘s Fisher Asset Management reduced its stake in the e-commerce giant by 21% to 1.98 million shares during the April-to-June period.

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Disclosure: None

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