In this article, we discuss the 5 most popular Reddit stocks to consider. If you want to read our comprehensive analysis about these famous stocks, go directly to Reddit Stock Portfolio: 10 Most Popular Stocks To Consider.
5. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Tesla, Inc. (NASDAQ:TSLA) remained the winner in the electric vehicle sector as the company managed to generate an annual run rate of 1 million cars in recent weeks. Recently, Wedbush raised its price target on Tesla, Inc. (NASDAQ:TSLA) to $1,100 with an Outperform rating on the shares.
Overall, 60 hedge funds tracked by Insider Monkey reported having positions in Tesla, Inc. (NASDAQ:TSLA), compared with 62 in the previous quarter. The total worth of these stakes is $9.2 billion.
Tesla, Inc. (NASDAQ:TSLA) announced its Q3 2021 results on October 20. The company posted an EPS of $1.86, beating the estimates by $0.25. The company reported the production of over 238,000 vehicles and delivered 241,300 units during the quarter, beating the estimates of 233,000 vehicles.
Worm Capital LLC mentioned Tesla, Inc. (NASDAQ:TSLA) in its Q3 2021 investor letter. Here is what the firm has to say:
“Our core portfolio as of this writing—TSLA, SPOT, SHOP, ABNB, and AMZN—are all premier examples of companies that use the concept of aggregation of marginal gains to continuously improve their value proposition for customers. After all, what is innovation if not just a continuous search for fractional advantages in business?
The way we see it, Tesla is perhaps the generational example of the marginal gain aggregation theory. It’s also been our largest position for several years now. There are many ways to characterize and value this business (see previous letters for longform write-ups), but perhaps the best way to think about the company is that it is a highly vertically-integrated software and hardware firm that’s devoted entirely to aggregating marginal gains across its organization. The goal? Lower costs, improve thruputs, and dramatically enhance the value proposition—at scale—for consumers…”
4. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 63
Recently, Goldman Sachs called Advanced Micro Devices, Inc. (NASDAQ:AMD) its best stock pick in the semiconductor space. The firm lifted its price target on the company to $127, with a Buy rating on the shares.
Of the 873 hedge funds tracked by Insider Monkey, 63 hedge funds reported having stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD) in Q2, compared with 62 in the previous quarter. The total value of these stakes is over $4.6 billion.
3. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 138
Warren Buffett’s Berkshire Hathaway was the largest shareholder of Apple Inc. (NASDAQ:AAPL) in Q2, owning shares worth $121.5 billion. Overall, the company presented a positive hedge fund sentiment in Q2, with 138 hedge funds tracked by Insider Monkey having stakes in the company, up from 127 in the previous quarter. The total value of these stakes is over $145.5 billion.
ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its first-quarter 2021 investor letter. Here is what the firm has to say:
“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”
2. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Funds: 146
This September, Benchmark lifted its price target on Alibaba Group Holding Limited (NYSE:BABA) to $277, with a Buy rating on the shares.
The number of hedge funds tracked by Insider Monkey having stakes in Alibaba Group Holding Limited (NYSE:BABA) increased to 146 in Q2, from 135 in the previous quarter. The total value of these stakes is over $16.7 billion.
Polen Capital Management mentioned Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2021 investor letter. Here is what the firm has to say:
“Alibaba also detracted from performance as the company continues to remain under regulatory scrutiny from both the Chinese State Administration for Market Regulation on antitrust concerns and the U.S. Securities and Exchange Commission on ADR listing requirements. Despite the regulatory overhang, we believe that Alibaba’s competitive positioning and growth outlook remains intact, even if the company must pay fines or modify some business practices. We viewed the current valuation at <20x next twelve month’s earnings as a compelling opportunity to add to our position. Alibaba is the second largest position in the Portfolio.”
1. Facebook, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 266
In Q2, 266 hedge funds tracked by Insider Monkey were bullish on Facebook, Inc. (NASDAQ:FB), compared with 257 in the previous quarter. The total value of these stakes is $42.3 billion.
First Eagle Investment Management mentioned Facebook, Inc. (NASDAQ:FB) in its second-quarter investor letter. Here is what the firm has to say:
“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”
You can also take a look at 10 Best Dividend ETFs to Buy According to Reddit and 10 Best SPACs to Invest In According to Reddit
