![]() Guggenheim recently upgraded Fortinet to buy from neutral after an earnings-triggered sell-off created a compelling entry point. Sacerdote also had a big bet on another cybersecurity company like Splunk, Fortinet. The stock, Whale Rock's fifth-biggest stock bet as of the end of June, has soared more than 66% this year. Cloud-based customer relationship management platform HubSpot is a lesser-known stock that's a favorite of Whale Rock. Whale Rock's top holdings included a host of Big Tech stocks such as Microsoft, Meta, Nvidia and Netflix. Bucking a generally gloomy day for the stock market in general and growth stocks in particular, Splunk ( SPLK 0.01) shot more than 9 higher on Monday. Meanwhile, Smith hiked his stake in Acacia Research in the second quarter, pushing the patent licensing company to the 10th-biggest position in Starboard's stock portfolio. Wix.com is a web development platform enabling businesses to take workflow online. Rounding out their fiscal 2023, Salesforce and Splunk are two tech stocks that investors should consider buying as the rising earnings estimates revisions for fiscal 2024 indicates. He drastically increased his stake in Wix.com last quarter, making it his ninth-biggest holding. ![]() 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. Once a Fidelity portfolio manager, Sacerdote first bought Splunk in the beginning of 2022. Sacerdote's Whale Rock Capital Management hedge fund, which focuses on technology, media and telecommunications, had invested more than $170 million in Splunk at the end of the second quarter. He was also one of the activist investors in customer relations management software company Salesforce. Smith, one of the most notable activist investors over the past two decades, has come out as an AI bull, comparing the technology with the advent of the internet. Here you will find stock quotes and a chart showing the up and down trends of Splunk SPLK stock, and you can buy stock in the app at the. The investor previously said Splunk could benefit from the rise of artificial intelligence, but was lacking in execution. Splunk was Smith's Starboard Value's third-biggest holding at the end of June, with a bet worth more than $430 million. The move marked a big win for the two hedge fund investors with big stakes in Splunk. ![]() 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. High-profile investors Jeff Smith and Alex Sacerdote hit home runs after Cisco 's buyout of cybersecurity software company Splunk sent shares surging. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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