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.”
The companies are valued at more than $200 million combined, and shares in each increased in value on Wednesday.
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