Goldman Sachs Growth Stocks: Top 5 Stocks

In this piece, we will take a look at Goldman Sachs’ top five growth stock picks. To learn the latest about the bank, take a look at Goldman Sachs Growth Stocks: Top 12 Stocks.

5. Eli Lilly and Company (NYSE:LLY)

P/E Ratio: 55.56

Eli Lilly and Company (NYSE:LLY) is the second non technology and pharma company on our list. The firm is currently under pressure from the Senate to provide details for its insulin pricing to reduce the cost of insulin for Americans.

During Q2 2023, 67 out of the 910 hedge funds polled by Insider Monkey had bought a stake in Eli Lilly and Company (NYSE:LLY). Out of these, the firm’s largest shareholder is Ken Fisher’s Fisher Asset Management since it owns 4.2 million shares that are worth $1.9 billion.

4. Amazon.com, Inc. (NASDAQ:AMZN)

P/E Ratio: 60.98

Amazon.com, Inc. (NASDAQ:AMZN) is one of the most valuable companies in the world due to its strong control of the lucrative electronic commerce and enterprise computing markets. The firm is busy expanding its retail presence these days through having recently partnered up with Shopify.

By the end of this year’s second quarter, 278 hedge funds among the 910 part of Insider Monkey’s database were the firm’s investors. Ken Fisher’s Fisher Asset Management is Amazon.com, Inc. (NASDAQ:AMZN)’s biggest investor, owning 40.6 million shares worth $5.3 billion.

3. Zscaler, Inc. (NASDAQ:ZS)

P/E Ratio: 71.94

Zscaler, Inc. (NASDAQ:ZS) is a software company that provides cloud based security products to a variety of users. The third pureplay enterprise computing firm on our list so far, it is also performing well strongly by having beaten analyst EPS estimates in all four of its latest quarters.

Insider Monkey dug through 910 hedge funds for their investments during 2023’s July quarter and discovered 45 had bought Zscaler, Inc. (NASDAQ:ZS)’s shares. Out of these, the largest shareholder is John Overdeck and David Siegel’s Two Sigma Advisors since it holds a $211 million stake.

2. Tesla, Inc. (NASDAQ:TSLA)

P/E Ratio: 75.19

Tesla, Inc. (NASDAQ:TSLA) is one of the largest electric vehicle manufacturers in the world. These days it is busy building its driving assistance platform by using 10,000 NVIDIA GPUs for a cost of $300 million. At the same time, Tesla, Inc. (NASDAQ:TSLA) is also being investigated by the SEC for a glass house related to its chief Mr. Elon Musk.

During this year’s June quarter, 79 out of the 910 hedge funds surveyed by Insider Monkey invested in the company. Tesla, Inc. (NASDAQ:TSLA)’s biggest hedge fund shareholder is Catherine D. Wood’s ARK Investment Management since it owns 4.8 million shares that are worth $1.2 billion.

1. CyberArk Software Ltd. (NASDAQ:CYBR)

P/E Ratio: 322.58

CyberArk Software Ltd. (NASDAQ:CYBR) is an Israeli software company that develops a variety of software platforms such as identity management solutions and cybersecurity products. Its shares are rated Strong Buy on average and Goldman Sachs set a $175 share price target for the firm in August 2022.

28 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database hold CyberArk Software Ltd. (NASDAQ:CYBR)’s shares. Out of these, the largest stakeholder is Robert G. Moses’s RGM Capital through a $193 million investment.

Disclosure: None.  You can also take a look at 12 Most Undervalued EV Stocks To Buy According To Hedge Funds and Goldman Sachs Dividend Stocks: Top 12 Stock Picks.

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