5 Stocks Cathie Wood Is Selling

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1. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 159   

Alphabet Inc. (NASDAQ: GOOG) is placed first on our list of 10 stocks Cathie Wood is selling. The stock has offered investors returns exceeding 73% over the course of the past twelve months. It is a technology company with interests in a wide variety of internet-related businesses. ARK Investment Management has sold off almost its entire stake in the firm over the past few months. At the end of March, the fund owned just three shares in the California company worth $6,000. 

On June 29, investment advisory Argus maintained a Buy rating on Alphabet Inc. (NASDAQ: GOOG) stock with a price target of $2,800. Joseph Bonner, an analyst at the firm, said that the company was beset by antitrust cases that would take years to play out in court. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $6.1 billion. 

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

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”

You can also take a peek at 10 Best Software Stocks to Buy According to Cathie Wood and 12 Best Ecommerce Stocks to Invest In.

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