5 Best NASDAQ Stocks to Buy Now

4. Tesla, Inc. (NASDAQ: TSLA)

Tesla, Inc. (NASDAQ: TSLA) is a California-based automaker that develops and sells electric vehicles around the world. The firm also has stakes in the clean energy business. It makes batteries, solar panels and other energy-related products as well. It has a market cap of over $649 billion and posted more than $31 billion in revenue in December 2020. Earlier this month, Vancouver-based investment firm Canaccord Genuity upgraded Tesla to a Buy rating and set the price target of shares at $1,071. Tesla ranks fourth on our list of 10 best NASDAQ stocks.

At the end of the fourth quarter of 2020, 68 hedge funds out of 887 in the Insider Monkey database held stakes in Tesla, up from 67 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $12.3 billion, up from $8.1 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group held the most shares – 28 million – worth more than $20 billion. OZ Management was 2nd with 15 million shares worth almost $10 billion.