[ad_1]
Chris Ratcliffe / Bloomberg Photography
Text size
Yale University significantly changed its equity investments in the second quarter, sometimes doing the opposite of what it did in the first quarter.
A big change is that the Ivy League institution has acquired a significant stake in
Slack Technologies
stocks (ticker: WORK) during the quarter. He also reduced
DocuSign
(DOCU) and
Smart sheet
(SMAR), two stocks that Yale bought in the first quarter. The university has also almost doubled its holdings in
JBG Smith Properties
(JBGS) after selling shares of the real estate investment trust during the first three months of 2019.
Yale disclosed the second quarter transactions in a form filed with the Securities and Exchange Commission. He did not respond to a request for comment on transactions.
In the second quarter, Yale purchased 437,667 Slack shares. At the end of June, it was the second largest US equity portfolio at $ 16.4 million. However, while Yale has not reduced its Slack position since then, it has been exposed to a 20.0% decline in the shares of the collaborative software company since the third quarter to closing on Friday.
The stock shares were floated on the stock market in June, with a reference price of $ 26, or 15.4% more.
The university sold 149,546 DocuSign shares at the end of the second quarter with only 73,438 shares of the electronic signature technology company. Although the stock of DocuSign has declined by 9.8% so far in the third quarter, it remains up 11.8% since the beginning of the year. However, this does not follow the market: the
S & P 500
is up 15.2% this year.
The title Smartsheet has risen 98.5% since the beginning of the year, including a gain of 1.9% after June, but Yale had already sold all of its 144,180 shares in the second quarter. Smartsheet, which provides a cloud-based work platform, was released only last year, but it was already a 13-year-old business.
Yale bought an additional 913,358 shares of JBG Smith in the second quarter, bringing its investment to 2.04 million shares, its most valuable stock investment at $ 80.4 million at the end of June. The REIT was front and center at the end of last year while renting and selling
Amazon.com
(AMZN). JBG Smith shares have declined 1.0% so far in the third quarter, but still handle a gain of 11.9% since the beginning of the year.
Inside Scoop is a regular feature of Barron that covers stock trading by corporate executives and board members, called "insiders", as well as by major shareholders, politicians and other personalities. Because of their insider status, these investors are required to disclose their stock trading with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin to [email protected] and follow @BarronsEdLin.
[ad_2]
Source link