5 Best ARK Stocks To Buy Now

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1. Tesla, Inc. (NASDAQ:TSLA)

ARK Investment Management’s 13 Portfolio: 7.17% 

ARK Investment Management’s Stake Value: $1.71 billion

Number of Hedge Fund Holders: 80

Tesla, Inc. (NASDAQ:TSLA) makes and sells electric vehicles and battery storage solutions in the United States, China, Germany and around the world. The company has been a long-term holding of Cathie Wood, who stands as one of the earliest investors in the now $786 billion company.

80 hedge funds from the database of Insider Monkey reported bullish bets on Tesla, Inc. (NASDAQ:TSLA) at the close of Q1 2022, with aggregate holdings worth $11.28 billion. This shows a negative trend from the preceding quarter where 91 hedge funds were stakeholders in the EV maker. The stock has lost 36.69% in the year to date as of May 27, on the back of supply chain issues in its key market of China, and nervous market sentiment around founder Elon Musk’s $44 billion bid to buy Twitter.

On May 24, Daiwa analyst Jairam Nathan maintained an ‘Outperform’ rating on Tesla, Inc. (NASDAQ:TSLA) shares, and lowered the price target to $800 from $1,150. The company’s revenue for the first quarter stood at $18.76 billion, signaling strong growth of 80.54% over the same period last year, and beating market estimates by $917.8 million. EPS also came in above analysts’ forecasts by $0.95.

Baron Funds, an investment firm, discussed Tesla, Inc. (NASDAQ:TSLA) in its Q1 2022 investor letter. Here’s what the fund said:

“During the first quarter, we bought back shares in Tesla, Inc., which designs, manufactures, and sells electric vehicles, solar products, energy storage solutions, and batteries. We believe that despite the run in the stock over the last few years, Tesla presents a favorable risk/reward profile and remains a Big Idea with only about 1% market share of the automotive market. Since we bought the stock during the first quarter, shares increased 27.1%, despite a complex supply-chain environment, on continued revenue growth and record profitability. Robust demand and operational optimization allow the company to offset inflationary pressures while vertical integration provides flexibility around supply bottlenecks. Moreover, we expect new localized manufacturing capacity to drive additional efficiencies while software initiatives, including the autonomous driving program, are accelerating, offering valuable optionality to the stock.”

You can also take a look at 15 Most Successful Products From Shark Tank and Warren Buffett’s Top 10 Stock Picks.

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