Coatue Management, Tiger Global and Tiger Consumer Management take a Liking to Facebook

November 20th, 2012
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Facebook investors are breathing a little easier following significant share purchases by top hedge funds in the third quarter. According to Reuters, several prominent hedge funds took new or added substantial positions in Facebook stock during a quarter which saw the company’s share price fall by as much as 32 percent.

Tiger Global Management liked Facebook the most with a 9.7 million share increase in its position, followed by Viking Global Management which took a new position with a 4.1 million share purchase. Chase Coleman's Tiger Consumer Management also increased its Facebook holdings to 1.8 million shares, and Coatue Management got on the books with a 1.4 million share purchase.

After its heralded IPO at $38 per share earlier this year, Facebook’s stock price fell to a low of $17.73 driven largely by investor concerns over its valuation. The stock recently closed above $22.

Similarly, Tiger Global Management, Greenlight Capital, Third Point, and Saba Capital Management have taken an interest in another poor performing dot com stock – Yahoo. Yahoo shares have recently been buoyed by the appointment of Google exec, Marissa Mayer, as its new CEO.
For Detailed Investor Profiles on these Investors, click below:
Coatue Capital
Greenlight Capital
Saba Capital Management LP
Third Point Management Company
Tiger Consumer Management LLC
Tiger Global Management
Viking Global Investors
Related People: Andreas Halvorsen; Boaz Weinstein; Brian Olson*; Bruce Gutkin; Chase Coleman; Daniel Loeb; David Einhorn; David Ott; David Scully (CMO); Feroz Dewan; George Pan; Harry Brandler; James L. Carruthers*; James Lin; Jeffrey A. Keswin*; Jeremy Benkiewicz; Julian Robertson; Julian Robertson; Munib Islam; Neeraj Chandra; Nelson Heumann; Patrick McCormack; Paul Andiorio; Philippe Laffont; Robert Schwartz; Thomas Laffont; Tim Lash; Vinit Sethi
Related Entities: Coatue Capital; Coatue Offshore funds; Coatue Qualified Partners LP; DME Advisors LP; Greenlight Capital Inc; Greenlight Masters LLC; Greenlight Private Equity Partners; Saba Capital II; Saba Capital Intermediate Fund LTD; Saba Capital Master Fund; Saba Capital Partners LP; Saba trading unit at Deutsche Bank*; Third Point LLC; Third Point Opportunities Master Fund LP; Third Point Resources LP; Third Point Ultra Master Fund LP; Third Point Ventures; Tiger Consumer; Tiger Global Funds; Tiger Management Corporation; Tiger Management*; Tiger Technology LP; Viking Global Equities; Viking Global Equities III; Viking Global Investors LP
Related Article Tags: Investment Management, Fund Manager and General Financial News


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