5 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital

2. Microsoft Corporation (NASDAQ:MSFT)

Steadfast Capital’s Stake Value: $372,845,000
Percentage of Steadfast Capital’s 13F Portfolio: 6.21%
Number of Hedge Fund Holders: 262

Microsoft Corporation (NASDAQ:MSFT) is a multinational corporation that creates, licenses, and maintains the software, services, devices, and solutions. On February 8, Morgan Stanley analyst Keith Weiss maintained an Overweight rating and $372 price target on Microsoft Corporation (NASDAQ:MSFT).

With 26.84 million shares worth more than $9.03 billion, Washington-based investment company Fisher Asset Management is the largest shareholder of Microsoft Corporation (NASDAQ:MSFT) among hedge funds tracked by Insider Monkey.

In the fourth quarter, Steadfast Capital sold 737,708 shares of Microsoft Corporation (NASDAQ:MSFT), reducing its remaining stake by about 40%. At of the end of the fourth quarter, the hedge fund held more than 1.11 million shares of Microsoft Corporation (NASDAQ:MSFT), worth about $372.85 million.

According to Insider Monkey, the number of hedge funds following Microsoft Corporation (NASDAQ:MSFT) grew to 262 in Q4 from 250 the previous quarter. These stakes hold a consolidated value of $75.67 billion, up from $65.88 billion.

In its Q4 2021 investor letter, Baron Opportunity Fund mentioned Microsoft Corporation (NASDAQ:MSFT). Here is what the fund said:

“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter, following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft’s results continued to be strong across the board, with total revenue growing 20% in constant currency, beating Street estimates by 3%; an acceleration in Commercial Cloud revenue to 34% constant-currency growth; operating margins expanding to just under 45%; earnings growth of 23%; and free cash flow growth of 30%. We believe the company is positioned to deliver 13% to 15% organic growth over the next three years, underpinned by total addressable market expansion and continued market share gains across its disruptive cloud product portfolio.”