5 Best Fast Growth Stocks to Buy Now

2. Tesla (NASDAQ:TSLA)

Number of Hedge Fund Investors: 91

Despite several headwinds Tesla remains a decent high-growth stock to invest in according to hedge funds. During the first quarter of 2023 the company’s revenue jumped about 24.2% year over year to reach $23.3 billion. However, the figure missed estimates by $60 million. Tesla received downgrades from several analysts after the quarterly report, but Cathie Wood’s ARK, which is a significant shareholder in the company, issued a $2000 price target for the stock.

As of the end of the first quarter of 2023, ARK Investment Management has a $1.12 billion stake in the company. At the end of the fourth quarter of 2022, 91 hedge funds in Insider Monkey’s database had stakes in the company.