Baron Discovery Fund recently published its first-quarter commentary – a copy of which can be downloaded here. During the first quarter of 2021, the Baron Discovery Fund returned 7.5% (institutional shares). This was 2.59% higher than the Russell 2000 Growth Index, the Fund’s primary benchmark index. You should check out Baron Discovery Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Ping Identity Holding Corp. (NYSE:PING) is one of them. Ping Identity Holding Corp. (NYSE:PING) is a software company. In the last three months, Ping Identity Holding Corp. (NYSE:PING) stock lost 37% and on May 14th it had a closing price of $23.67. Here is what the fund said:
“Ping Identity Corporation offers Identity and Access Management (“IAM”) solutions enabling secure network and software access to employees, partners, and customers. Shares fell after the company outlined a more complex pandemic-driven spending environment in which enterprise projects were awarded in smaller pieces and deployments were extended over longer periods of time. This enabled clients to conserve valuable working capital, but obviously negatively impacted Ping’s revenue growth rate. The good news is that these smaller projects ultimately will become fully implemented IAM solutions, which will drive accelerating growth as the pandemic recovery takes hold. We also expect Ping to further hone its sales process to drive increased numbers of customers. Our research continues to show that Ping’s enterprise solutions are among the best available and that its current trading multiple makes it one of the best “growth at a reasonable price” software names around.”
In Q3 2020, the number of bullish hedge fund positions on Ping Identity Holding Corp. (NYSE:PING) stock decreased by about 27% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in PING’s growth potential. Our calculations showed that Ping Identity Holding Corp. (NYSE:PING) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
