Michael Burry increased his investment in Veeva Systems, a cloud software provider for the life sciences industry. His fund purchased additional shares at an average price of $159.05. This move doubles down on a position Burry previously identified as an attractive value opportunity. VEEV shares have declined nearly 30% year-to-date.
Burry views Veeva as an undervalued, profitable company with strong cash generation. He anticipates lighter-expectations stocks will outperform as richly valued technology stocks face a correction. Veeva reports strong adoption of its Vault CRM platform and expansion into pharmaceutical AI tools. Recent Stocktwits sentiment for Veeva was bearish despite Burry’s increased stake.