1. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Tesla, Inc. (NASDAQ:TSLA) gained 84% in the past six months. The California-based EV manufacturer is the most valuable autonomous vehicle company, accounting for 21% of the global EV market.
CEO Elon Musk has unloaded nearly $10 billion of the stock this month yet the stock remained stabilized over $1 trillion market cap. At the end of the September quarter, 60 out of 867 elite funds tracked by Insider Monkey had a total stake of $10.6 billion in Tesla, Inc. (NASDAQ:TSLA), same in the previous quarter worth $9.3 billion.
In Q3, the company installed 288 new Superchargers, increasing the total number of Tesla, Inc.’s (NASDAQ:TSLA) charging stations globally by 49% to 3,254. In August 2021, the EV behemoth completed the construction of its Supercharger production plant in Shanghai as part of its expansion. Once operational, the facility will be able to produce 10,000 Superchargers per year.
On November 18, Daniel Ives of Wedbush maintained an Outperform rating on Tesla, Inc. (NASDAQ:TSLA). Ives believes that the California-based EV maker is positioned to lead the $5 trillion market opportunity in the next decade. The analyst increased his price target for the EV stock to $1,400 from $1,100.
In its Q2 2021 investor letter, Worm Capital LLC, an investment management firm, mentioned Tesla, Inc. (NASDAQ: TSLA). Here is what the firm had to say:
“Tesla underperformed in the quarter, but we maintain our high conviction in the long-term thesis on each business model. Much like art or writing, investment research is a continuous process—it never really ends. Prices can move in either direction in any given quarter, but our advantage often comes from knowing the businesses so well that short-term fluctuations in pricing shouldn’t affect our decision-making. On high conviction positions, this patience is often rewarded, which is why research is so valuable to our process Tesla is in a class of its own. What many in the market seem to (still) not understand is that Tesla is not a car company so much as a complex manufacturing firm—with significant recurring software potential—growing, in our view, at a targeted rate of 50-100% YoY over the next several years. Unlike any other automotive firm in existence today, Tesla alone is a vertically integrated hardware and software business developing state-of-the-art manufacturing techniques that will revolutionize the auto industry (i.e. its Giga Presses, 4680 cells, etc.). It is a generational company and we anticipate it will eventually be the largest company in the world. Many of the conventional narratives around competition displacing Tesla’s lead are fundamentally flawed, and the many headlines surrounding Tesla’s approach to autonomy are frustratingly superficial. (As an aside, we highly recommend watching Andrej Karpathy’s, Tesla’s head of AI, his recent presentation from June: “Tesla details its self-driving Supercomputer that will bring in the Dojo era”)”
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