Visa Stake Trimmed by Engineers Gate Manager LP Amid Market Volatility
Engineers Gate Manager LP trimmed its stake in Visa Inc., cutting shares by 91.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission.
The institutional investor owned 9,665 shares of the credit-card processor's stock after selling 108,877 shares during the quarter, valued at $3,316,000 at the end of the period.
This was not the only change in Visa's ownership; several other large investors also bought and sold shares of the stock. Parvin Asset Management LLC increased its position in Visa by 200% during the third quarter, while Philadelphia Investment Partners LLC purchased a new position in shares of Visa in the second quarter worth approximately $29,000.
According to data from MarketBeat.com, seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company, with an average target price of $416.62.