5 Favorite Stocks of Billionaire Izzy Englander

2. Tesla, Inc. (NASDAQ:TSLA)

Millennium Management’s Stake Value: $1,172,399,000

Percentage of Millennium Management’s 13F Portfolio: 0.59%

Number of Hedge Fund Holders: 91

Tesla, Inc. (NASDAQ:TSLA) made it to the list of Izzy Englander’s favorite stocks, with his hedge fund increasing its Tesla, Inc. (NASDAQ:TSLA) stake by 522% in Q4 2021. Millennium Management owns 1.10 million shares of the company, worth $1.17 billion, representing 0.59% of the fund’s total 13F holdings. 

Tesla, Inc. (NASDAQ:TSLA)’s 2021 revenue came in at $53.8 billion, compared to $31.5 billion in the earlier year. The company’s net income for 2021 stood at $5.5 billion, a solid increase from the 2020 income of $690 million. 

On April 8, Wedbush analyst Daniel Ives kept an Outperform rating on Tesla, Inc. (NASDAQ:TSLA) and a $1,400 price target on the company. The analyst noted that Tesla, Inc. (NASDAQ:TSLA)’s flagship plant will create 10,000 job opportunities, and the company plans to build the Cybertruck in 2023, as well as the Semi, Model 3, and the core Model Y. 

According to the hedge fund database of Insider Monkey, 91 funds reported owning stakes worth roughly $13 billion in Tesla, Inc. (NASDAQ:TSLA) at the end of  the fourth quarter of 2021. Cathie Wood’s ARK Investment Management is a significant stakeholder of the company, with 1.92 million shares valued at more than $2 billion. 

Here is what ClearBridge Investments Global Growth Strategy has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2021 investor letter:

“Within the growth universe we target, emerging growth stocks – the category with the highest revenue growth rates – significantly underperformed the overall growth categories in 2021 after leading performance in 2020. The pull-through effect on digitization, online access across industries, and spending to modernize outdated corporate infrastructures accelerated trends in a highly compressed time frame. Much of that trend slackened in 2021 and shares of these companies, while showing good top-line growth, saw slowing appreciation from the blistering pace in the prior year. With that moderating growth, multiples decelerated from 2020 highs. Bucking the headwinds among our emerging growth names was Tesla which saw continued sales momentum from their leadership positions in the key growth areas of electric vehicles.”