In this article, we discuss the top 5 stock picks of Anand Parekh’s Alyeska Investment Group. If you want to read our detailed analysis of Parekh’s history, and hedge fund performance, go directly to the Top 10 Stock Picks of Anand Parekh’s Alyeska Investment Group.
5. Veeva Systems Inc. (NYSE:VEEV)
Alyeska Investment Group’s Stake Value: $104.1 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 1.31%
No. of Hedge Fund Holders: 44
Founded in 2007, Veeva Systems Inc. (NYSE:VEEV) is a leading provider of cloud-based software solutions. The company caters to regulated industries including consumer goods, chemical, cosmetics, and life sciences. The company has its headquarters in the San Francisco Bay Area, with offices across North America, Europe, Asia, and Latin America.
At the end of the third quarter of 2021, 44 funds out of the 867 tracked by Insider Monkey had stakes in Veeva Systems Inc. (NYSE:VEEV). The company represents 1.31% of the total investment portfolio of the hedge fund at the end of the third quarter of 2021.
Citi Group lowered its price target on Veeva Systems Inc. (NYSE:VEEV) to $349 from $356 and maintained its “Buy” rating.
4. Microsoft Corporation (NASDAQ:MSFT)
Alyeska Investment Group’s Stake Value: $105.3 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 1.33%
No. of Hedge Fund Holders: 250
Microsoft Corporation (NASDAQ:MSFT) is a technology company and its platforms and tools help in driving small business productivity, large business competitiveness, and public-sector efficiency. The company is engaged in developing and supporting software, services, devices, and solutions.
Alyeska Investment Group owns 373,516 shares in Microsoft Corporation (NASDAQ:MSFT), amounting to $105.3 million. The company makes up 1.33% of the hedge fund’s 13F portfolio. At the end of third quarter of 2021, 250 hedge funds in the database of Insider Monkey held stakes worth $65.8 billion.
Jefferies Financial Group raised its price target on Microsoft Corporation (NASDAQ:MSFT) from $375.00 to $400.00 and has given a “Buy” rating on the stock.
ClearBridge Investments, an investment management firm, published its 3Q21 investor letter and mentioned Microsoft Corporation (NASDAQ:MSFT). Here is what the fund has to say about the company:
“The Strategy modestly outperformed the benchmark; consistent with our fundamental approach that seeks balanced exposure to industries and the growth and value spectrum, performance was driven by companies from diverse sectors. Microsoft, which develops software including the Windows family of products, the Microsoft Office system and the Azure cloud platform, and is a leader in data protection and customer privacy as well as human rights and diversity, contributed strongly as earnings maintained positive sentiment. Microsoft is seeing a number of businesses reach a new, higher level of engagement, adoption and momentum.”
3. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)
Alyeska Investment Group’s Stake Value: $136.4 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 1.72%
No. of Hedge Fund Holders: 53
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is engaged in developing, publishing, and marketing interactive entertainment for consumers around the globe. The company develops and publishes products mainly through Rockstar Games, 2K, Private Division, and T2 Mobile Games.
Insider Monkey’s data shows that 53 hedge funds held stakes at the end of the third quarter worth $1.19 billion. At the end of second quarter, 55 hedge funds held stakes in the company.
Andrew Uerkwitz of Jefferies has given a “Buy” rating on the stock and gave a price target of $231.
Jefferies Group, an investment management firm, released its third-quarter 2021 investor letter and mentioned Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Here is what the fund said:
“TakeTwo – TTWO (Buy, $231): TakeTwo’s IP Grand Theft Auto, Red Dead Redemption, and NBA2K are already on the road toward a “Metaverse”. They lack a true economy and many of the attributes needed today to be a Metaverse, but they have high social engagement, brand crossovers, and the start of an economy that makes sense. In our initiation we wrote about Red Dead Online potential – the ability to take on economic roles is already in the game (moonshiner, bounty hunter, trader, naturalist, & collector). Expanding into a bigger economy, cross branding, and expanding the roles/player base would both increase engagement & monetization, but also move it deeper into the Metaverse. NBA2K’s The City is even further along with many virtual stores of phyiscal brands from Jordan, Nike, Reebok, Gatorade, and many others already in the game. Even Jake from State Farm makes an appearance. This mode is built on social interaction and self-expression. Leveraging brands from the majors to smaller indie labels has been ongoing for the nearly a decade. An example of technology being a limiting factor – on current consoles TheCity is far more robust in capabilities, experiences, and number of players vs. older generations. In fact on older generations, the irony isn’t lost on us. The mode is called TheNeighborhood.”
2. Alphabet Inc. (NASDAQ:GOOG)
Alyeska Investment Group’s Stake Value: $143.4 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 1.81%
No. of Hedge Fund Holders: 156
Ranked second on our list of top 10 stock picks of Anand Parekh’s Alyeska Investment Group is Alphabet Inc. (NASDAQ:GOOG), which is a collection of businesses.
At the end of the third quarter of 2021, 156 hedge funds in the database of Insider Monkey held stakes worth $34.9 billion in Alphabet Inc. (NASDAQ:GOOG). At the end of the third quarter of 2021, the company represents 1.81% of the total investment portfolio of the hedge fund.
Oppenheimer increased its price target on Alphabet Inc. (NASDAQ:GOOG) from $3,000.00 to $3,500.00. It gave an “Outperform” rating on the stock.
Saturna Capital, an investment management firm, released its 3Q21 investor letter and mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:
“Alphabet was a new addition to the Fund this year, as we believed it important to have exposure to the top online media and advertising company in the world. Some have raised concerns surrounding Alphabet’s exposure to political interference, but we take comfort from the belief that were the company to be broken up, it would quite likely be worth even more than as a single entity.”
1. Palo Alto Networks, Inc. (NASDAQ:PANW)
Alyeska Investment Group’s Stake Value: $167.2 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 2.11%
No. of Hedge Fund Holders: 73
Palo Alto Networks, Inc. (NASDAQ:PANW) is the global cybersecurity leader and is engaged in selling security appliances, subscriptions, and support to enterprises and government entities.
It is ranked first on our list of top 10 stock picks of Anand Parekh’s Alyeska Investment Group. The hedge fund managed by Anand Parekh owns 349,212 shares in Palo Alto Networks, Inc. (NASDAQ:PANW) worth $167.2 million, making up 2.11% of their third quarter portfolio. Insider Monkey’s data shows that 73 hedge funds held stakes at the end of the third quarter worth $5.89 billion. At the end of the second quarter, 69 hedge funds held stakes in the company.
UBS Group increased its price target on Palo Alto Networks, Inc. (NASDAQ:PANW) from $530.00 to $535.00 and gave the stock a “Neutral” rating.
You can also take a peek at 15 Best Security Stocks to Buy Now and 10 Best Vanguard Stocks to Buy Now.
