5 Tech Stocks Hedge Funds are Buying Despite Rising Interest Rates

1. Chindata Group Holdings Limited (NASDAQ:CD)

Number of Hedge Fund Holders in Q2 2022: 22 

Number of Hedge Fund Holders in Q1 2022: 10   

Chindata Group Holdings Limited (NASDAQ:CD) provides carrier-neutral hyper scale data center solutions. On August 25, the firm posted earnings for the second quarter of 2022, reporting earnings per share of $0.08. The revenue over the period was $155 million, up 45% compared to the revenue over the same period last year. The firm said it was expecting 2022 revenue to be around RMB 4,130 million – RMB 4,230 million, an increase of 44.8 – 48.3% compared to 2021. 

Chindata Group Holdings Limited (NASDAQ:CD) was founded in 2015 and is based in China. It employs more than 1,300 people. The firm also has business interests in India, Malaysia, and Southeast Asia. 

At the end of the second quarter of 2022, 22 hedge funds in the database of Insider Monkey held stakes worth $155 million in Chindata Group Holdings Limited (NASDAQ:CD), compared to 10 in the preceding quarter worth $83 million. 

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