5 Best Stocks to Buy Now According to Billionaire Nicholas Pritzker’s Tao Capital

3. Uber Technologies, Inc. (NYSE:UBER)

Tao Capital’s Stake Value: $53,874,000

Percentage of Tao Capital’s 13F Portfolio: 16.46%

Number of Hedge Fund Holders: 153

Uber Technologies, Inc. (NYSE:UBER) is a California-based company that provides mobility and transport solutions in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Uber Technologies, Inc. (NYSE:UBER) reported on April 6 that it is going to add multiple different travel options to its U.K. app later in 2022, such as trains and flights. 

Nicholas Pritzker owns 1.28 million shares of Uber Technologies, Inc. (NYSE:UBER) as of Q4 2021, worth $53.8 million, representing 16.46% of the total 13F holdings. 

On April 4, Mizuho analyst James Lee maintained a Buy rating on Uber Technologies, Inc. (NYSE:UBER) with a $72 price target after Washington proposed a new law that allows gig drivers to remain as contractors but receive benefits like injury protection and paid medical leave. He reiterated Uber Technologies, Inc. (NYSE:UBER) as a top pick in the United States.

According to Insider Monkey’s Q4 data, 153 hedge funds held long positions in Uber Technologies, Inc. (NYSE:UBER), up from 143 funds in the prior quarter. The total stakes held in Q4 amounted to $10.6 billion. Tiger Global Management held the leading stake in the company, with more than 18 million shares worth $756 million.

Here is what ClearBridge Large Cap Growth Strategy has to say about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2021 investor letter:

“We have also been looking for multi-year secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber will also be a key player in the transition from internal combustion engines to EVs.”