5 New Stock Picks of Billionaire Stanley Druckenmiller

1. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 59

Zoom Video Communications, Inc. (NASDAQ:ZM) owns and runs a video-first communications platform. At the end of the third quarter of 2021, Duquesne Capital owned 117,690 shares in the company worth $30.7 million, representing 0.99% of the portfolio. 

KeyBanc analyst Michael Turits recently upgraded Zoom Video Communications, Inc. (NASDAQ:ZM) stock to Overweight from Sector Weight with a price target of $200, identifying recent dips in share prices as a buying opportunity for investors. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Tiger Global Management LLC is a leading shareholder in Zoom Video Communications, Inc. (NASDAQ:ZM) with 4.2 million shares worth more than $1.6 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Zoom Video Communications, Inc. (NASDAQ:ZM) was one of them. Here is what the fund said:

“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”

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