5 Tech Stocks to Buy According to Billionaire Philippe Laffont

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1. DoorDash, Inc. (NYSE:DASH)

Coatue Management’s Stake Value: $1,947,585,000

Percentage of Coatue Management’s 13F Portfolio: 7.92%

Number of Hedge Fund Holders: 42

DoorDash, Inc. (NYSE:DASH) is a California-based company that operates an online food ordering and food delivery platform. Being the largest tech stock holding in the Q3 portfolio of Philippe Laffont, DoorDash, Inc. (NYSE:DASH) stock represents 7.92% of the billionaire’s total investments. Laffont, via Coatue Management, holds a $1.94 billion position in the company. 

On December 15, JPMorgan analyst Doug Anmuth lowered the price target on DoorDash, Inc. (NYSE:DASH) to $175 from $220 and kept a Neutral rating on the shares. Heading into 2022, the analyst believes the internet sector is in a stronger position than pre-pandemic levels amid increased digitization of the economy. However, he expects “more varied stock performance to continue,” with company-specific operations a bigger factor into post-pandemic normalization. The analyst sees lower levels of growth as many companies face tough comps and move toward normalization.

In Q3 2021, 42 hedge funds were bullish on DoorDash, Inc. (NYSE:DASH), down from 45 funds in the preceding quarter. The leading DoorDash, Inc. (NYSE:DASH) stakeholder from Q3 is Tiger Global Management, with over 11 million shares worth $2.27 billion. 

You can also take a look at 10 Healthcare Dividend Stocks with Over 3% Yield and Legendary Value Investor Bill Miller’s Portfolio: Top 10 Stock Picks.

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