5 Best Cheap Tech Stocks to Buy According to Cathie Wood

4. Opendoor Technologies Inc. (NASDAQ: OPEN)

Number of Hedge Fund Holders: 33   

Opendoor Technologies Inc. (NASDAQ: OPEN) is a California-based company that offers clients the ability to transact in residential real estate online. It was founded in 2014 and is ranked fourth on our list of 10 best cheap tech stocks to buy according to Cathie Wood. Opendoor stock has returned more than 1.15 to investors in the past week. ARK Investment holds 11 million shares in the company worth over $246 million, representing 0.48% of their investment portfolio. 

Opendoor Technologies Inc. (NASDAQ: OPEN) reported earnings per share of -$0.48 for the first three months of 2021, beating market predictions by $0.01. The revenue for the first quarter was close to $750 million, beating market estimates by $127 million. 

At the end of the first quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $1.04 billion in Opendoor Technologies Inc. (NASDAQ: OPEN), up from 28 in the preceding quarter worth $1.02 billion. 

Just like Square, Inc. (NYSE: SQ), Spotify Technology S.A. (NYSE: SPOT), Tesla, Inc. (NASDAQ: TSLA), Palantir Technologies Inc. (NYSE: PLTR) and Baidu, Inc. (NASDAQ: BIDU), Opendoor Technologies Inc. (NASDAQ: OPEN) is one of the best stocks to buy according to Cathie Wood. 

In its Q1 2021 investor letter, Baron Fund, an asset management firm, highlighted a few stocks and Opendoor Technologies Inc. (NASDAQ: OPEN) was one of them. Here is what the fund said:

“The sales of Opendoor Technologies Inc. was a trim for position-sizing purposes after orders-of-magnitude type stock returns over the last year for these investments. We continue to believe the company is a disruptive innovator with open-ended long-term opportunities.”