High-profile investors Jeff Smith and Alex Sacerdote hit home runs after Cisco 's buyout of cybersecurity software company Splunk sent shares surging. Splunk rocketed more than 20% following the announcement that Cisco will acquire it for $157 per share in an all-cash deal worth about $28 billion. The move marked a big win for the two hedge fund investors with big stakes in Splunk.
Once a Fidelity portfolio manager, Sacerdote first bought Splunk in the beginning of 2022. What else are they betting on? Smith, who has called AI an "enormous opportunity," invested in a few other stocks to capitalize on the boom. He drastically increased his stake in Wix.com last quarter, making it his ninth-biggest holding. Wix.com is a web development platform enabling businesses to take workflow online. The stock is up about 16% this year.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »