5 Best Cheap Tech Stocks to Buy According to Cathie Wood

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1. Pure Storage, Inc. (NYSE: PSTG)

Number of Hedge Fund Holders: 30     

Pure Storage, Inc. (NYSE: PSTG) is a California-based technology firm that focuses on data storage solutions. It was founded in 2009 and is placed first on our list of 10 best cheap tech stocks to buy according to Cathie Wood. Pure Storage stock has offered investors returns exceeding 8.5% in the past year. ARK Investment holds more than 32.8 million shares in the data storage company worth over $708 million, representing 1.4% of their portfolio. Pure Storage was formerly known as OS76. 

On May 13, investment advisory Evercore upgraded Pure Storage, Inc. (NYSE: PSTG) storage stock to Outperform from In Line on the back of expected accelerating top-line growth for the  data firm as enterprise spending continued to improve in the post pandemic economy. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Eminence Capital is a leading shareholder in Pure Storage, Inc. (NYSE: PSTG) with 6 million shares worth more than $130 million.  

You can also take a peek at 10 Cheap Stocks To Invest In February 2021 and Top 10 Stocks to Invest in For Beginner Investors.

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