JANA Partners, a major hedge fund led by Barry Rosenstein, purchased more than 20 million class A shares of Zynga and Groupon stock on Wednesday, reports Reuters, to claim roughly a 3 percent stake in both tech stocks.
According to the source, which analyzed the fund’s first-quarter filing documents, a shaky future could be in store for these companies. It says JANA Partners “often pressures the companies it invests in to change their business strategies or sell themselves.”
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The companies are valued at more than $200 million combined, and shares in each increased in value on Wednesday.
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