Senvest Investment Growth
Senvest Management Expands Portfolio, Significantly Boosting Stakes in Wix.com and Other Key Companies
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Key Points
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Institutional investors own 81.52% of Wix.com stock, underscoring heavy external ownership beyond Senvest's position even as Senvest expanded its stake.
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Vaughan Nelson Investment Management L.P. established a new Illumina position in the first quarter, purchasing shares valued at about $106.5 million.
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Arrowstreet Capital boosted its CAE stake by 13.6% in the first quarter, increasing to 67,275 shares valued at roughly $1.75 million.
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Arrowstreet Capital also expanded its Varonis Systems holding by 218.4% in the first quarter, bringing ownership to 1,409,487 shares worth about $30.3 million.
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uniQure N.V. positions grew to 72,300 shares in the first quarter, a 44.6% increase valued at about $1.18 million, with institutional ownership in uniQure at 78.83%.
Senvest Management LLC significantly expanded its stake in Wix.com during the first quarter, boosting its holdings by 24.8% to 3,754,680 shares, according to Ticker Report. The move makes Wix the fund's second-largest holding, signaling strong conviction in the website-building platform.
The New York-based hedge fund did not stop at Wix. Senvest also initiated a brand-new position in aerospace company CAE Inc., buying 370,000 shares worth about $9.64 million, per Ticker Report.
Wix and Illumina Stakes Grow as Core Bets
Senvest's Wix.com position now sits at 3,754,680 shares after the fund added roughly 748,000 shares in the quarter, according to Ticker Report. Wix climbed to the fund's second-largest holding. Institutional investors as a whole own 81.52% of Wix.com stock, showing just how dominant outside ownership has become in the company.
Senvest also raised its Illumina stake by 10.2%, bringing its total to 1,544,567 shares. Illumina now ranks as the fund's third-largest position. Separately, Vaughan Nelson Investment Management made a bold move into Illumina as well, opening a new position valued at about $106.5 million, per Watchlist News.
Varonis Stake Surges Over 400% in One Quarter
The most dramatic move Senvest made was in Varonis Systems. The fund grew its stake by 406.1% to 1,448,943 shares in just one quarter, according to Ticker Report. Varonis makes data security software. A 406% increase in a single quarter is a rare and aggressive bet.
Senvest was not alone in piling into Varonis. Arrowstreet Capital also expanded its Varonis holding by 218.4% in the first quarter. Arrowstreet now owns 1,409,487 shares worth about $30.3 million, per Ticker Report.
New CAE Position and Small uniQure Bet Round Out Quarter
Senvest entered CAE Inc. for the first time, buying 370,000 shares valued at roughly $9.64 million, per Ticker Report. CAE makes flight simulators and pilot training systems. Arrowstreet Capital also added to its CAE position in the quarter, raising its stake by 13.6% to 67,275 shares worth about $1.75 million.
On the smaller side, Senvest grew its uniQure N.V. stake by 44.6% to 72,300 shares, valued at about $1.18 million. uniQure is a gene therapy biotech. Institutional investors own 78.83% of uniQure, reflecting broad but cautious interest in the company, per Ticker Report.
Senvest Also Trimmed Some Positions While Adding Others
Not every move this quarter was a buy. Senvest cut its RH stake by 24.5% in the first quarter, selling 206,358 shares, per Ticker Report. RH is the luxury home furnishings retailer. The sale suggests the fund is rotating money out of consumer discretionary names and into tech and biotech.
Senvest also bought a new position in Micron Technology, picking up 24,000 shares of the semiconductor maker for about $8 million, per Watchlist News. The fund added 275,252 shares of furniture brand Lovesac as well, lifting that stake by 36.7% to 1,025,393 shares total.
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