Is Prologis Inc (PLD) A Good Stock To Buy?

Seeing as Prologis Inc (NYSE:PLD) has faced declining sentiment from the entirety of the hedge funds we track, logic holds that there lies a certain “tier” of hedgies who were dropping their entire stakes heading into Q4. Interestingly, Israel Englander’s Millennium Management dropped the biggest position of the 700 funds followed by Insider Monkey, comprising close to $38.7 million in stock. Renaissance Technologies, also cut its stock, about $31.9 million worth. These transactions are intriguing to say the least, as total hedge fund interest dropped by 11 funds heading into Q4.

Let’s now review hedge fund activity in other stocks similar to Prologis Inc (NYSE:PLD). We will take a look at ARM Holdings plc (ADR) (NASDAQ:ARMH), Fiserv, Inc. (NASDAQ:FISV), Aviva Plc (ADR) (NYSE:AV), and NXP Semiconductors NV (NASDAQ:NXPI). All of these stocks’ market caps are similar to PLD’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $949 million. That figure was $403 million in PLD’s case. NXP Semiconductors NV (NASDAQ:NXPI) is the most popular stock in this table and Aviva Plc (ADR) (NYSE:AV) is the least popular one with only 7 bullish hedge fund positions. Prologis Inc (NYSE:PLD) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NXPI might be a better candidate to consider a long position.