In this article, we discuss the top 10 tech stocks to buy according to billionaire Stanley Druckenmiller.
Stanley Druckenmiller is a billionaire hedge fund manager, investor, and philanthropist. He was the president and chairman of Duquesne Capital from its inception in 1981 till 2010, when Druckenmiller closed the fund. Currently, Druckenmiller manages his investments from the Duquesne Family Office in New York, and his Q3 portfolio is worth over $3 billion as per the 13F filings from September 2021.
After graduating with a Bachelor’s in English and Economics from Bowdoin College, Druckenmiller joined Pittsburgh National Bank in 1977 as a management trainee, and within a year he was appointed as the head of the equity research group at Pittsburgh National Bank. In 1981, Druckenmiller founded Duquesne Capital Management, and in 1986, he was appointed as head of the Dreyfus Fund, in addition to maintaining control of his own hedge fund. Druckenmiller joined George Soros at the Quantum Fund in 1988, where together, they shorted the British pound in 1992 and made over $1 billion in profits. In 2000, Druckenmiller parted ways with Soros and focused entirely on Duquesne Capital Management.
Stanley Druckenmiller retired from his hedge fund, and returned money to investors, since he stated that the fund had gotten quite large, and it was too stressful to manage unfailing returns year on year. He stated that making profits while managing a large sum of money is quite difficult. Druckenmiller now manages a relatively compact portfolio from his New York office.
In Q3 2021, the billionaire’s investments were focused on the information technology, consumer discretionary, healthcare, and communications sectors. The most notable tech stocks from Stanley Druckenmiller’s Q3 portfolio include Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), among others discussed in detail below.
Our Methodology
We used Stanley Druckenmiller’s investment portfolio from the third quarter to select his top 10 tech stocks, ranking each stock according to the billionaire’s stake value in the holding.
We have also mentioned important metrics such as Q3 earnings, analyst ratings, and the hedge fund sentiment around each stock to provide more context on the companies.
Tech Stocks to Buy According to Billionaire Stanley Druckenmiller
10. Palantir Technologies Inc. (NYSE:PLTR)
Stanley Druckenmiller’s Stake Value: $39,256,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.27%
Number of Hedge Fund Holders: 35
Palantir Technologies Inc. (NYSE:PLTR), a Colorado-based software company engaged in big data analytics, is one of Stanley Druckenmiller’s top tech stock picks from the third quarter, with the billionaire holding 1.63 million shares in Palantir Technologies Inc. (NYSE:PLTR), worth $39.2 million, representing 1.27% of his Q3 investments.
Palantir Technologies Inc. (NYSE:PLTR), on November 9, posted its Q3 results. EPS in the quarter came in at $0.04, in line with analysts’ consensus estimates. Revenue for the period totaled $392.15 million, outperforming estimates by $5.86 million.
It was reported on December 2 that Palantir Technologies Inc. (NYSE:PLTR) signed a $43 million contract with the Space Systems Command’s Cross-Mission Ground & Communications Enterprise, and will continue to support national security objectives by delivering a data analytics and decision making platform.
On November 16, Credit Suisse analyst Phil Winslow initiated coverage of Palantir Technologies Inc. (NYSE:PLTR) with a Neutral rating and a $25 price target, stating that even though the company had solid operations, its clientele is quite concentrated, which could result in uneven financial performance.
Cathie Wood’s ARK Investment Management purchased 476,000 Palantir Technologies Inc. (NYSE:PLTR) shares on November 29, making her total stake in the company amount to over 37 million shares worth $895.3 million. Overall, 35 hedge funds in the Q3 database of Insider Monkey were bullish on Palantir Technologies Inc. (NYSE:PLTR), with total stakes valued at $1.63 billion.
In addition to Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Palantir Technologies Inc. (NYSE:PLTR) is a notable tech stock in Stanley Druckenmiller’s Q3 portfolio.
9. Carvana Co. (NYSE:CVNA)
Stanley Druckenmiller’s Stake Value: $41,382,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.34%
Number of Hedge Fund Holders: 58
Carvana Co. (NYSE:CVNA) is one of the fastest growing used car retailers in the US, operating via an online platform. Stanley Druckenmiller, as of Q3 2021, owns 137,237 shares of Carvana Co. (NYSE:CVNA), worth $41.3 million, representing 1.34% of his total 13F securities.
At the end of the third quarter of 2021, 58 hedge funds in the database of Insider Monkey were long Carvana Co. (NYSE:CVNA), with a total stake value of $8.3 billion. This is compared to 63 funds reporting stakes worth $8.9 billion in the company in the previous quarter. Chase Coleman’s Tiger Global Management is the leading Carvana Co. (NYSE:CVNA) stakeholder as of September this year, with 6.14 million shares worth $1.85 billion.
Carvana Co. (NYSE:CVNA), on November 4, posted its Q3 earnings, with EPS for the quarter being -$0.38, missing estimates by -$0.09. The quarterly revenue amounted to $3.48 billion, up 125.45% year-over-year, beating estimates by $219.76 million.
Needham analyst Chris Pierce lowered the price target on Carvana Co. (NYSE:CVNA) on November 6 to $378 from $421 but kept a Buy rating on the shares after the Q3 earnings miss. The analyst sees gains in Carvana Co. (NYSE:CVNA) shares in the future, and remains bullish on the stock, stating that current price levels are an attractive buying point.
Here is what Steel City Capital has to say about Carvana Co. (NYSE:CVNA) in their Q1 2021 investor letter:
“Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.
The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96…” (Click here to see the full text)
8. Intuit Inc. (NASDAQ:INTU)
Stanley Druckenmiller’s Stake Value: $47,018,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.52%
Number of Hedge Fund Holders: 64
A company offering financial software via a global technology platform, some of Intuit Inc. (NASDAQ:INTU)’s products include TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. Stanley Druckenmiller holds 87,149 Intuit Inc. (NASDAQ:INTU) shares, worth over $47 million, representing 1.52% of his total investments as of Q3 2021.
On November 18, Intuit Inc. (NASDAQ:INTU) reported its Q3 earnings, with an EPS of $1.53, beating estimates by $0.56. Revenue for the quarter totaled $2.01 billion, up 51.70% from the prior-year quarter, exceeding estimates by $193.42 million.
Oppenheimer analyst Scott Schneeberger, on November 19, raised the price target on Intuit Inc. (NASDAQ:INTU) to $696 from $584 and kept an Outperform rating on the shares.
At the end of September, 64 hedge funds tracked by Insider Monkey reported owning stakes in Intuit Inc. (NASDAQ:INTU), worth $6.15 billion. This is comparable to 66 funds being bullish on Intuit Inc. (NASDAQ:INTU) in the preceding quarter, with total stakes amounting to $5.38 billion.
Terry Smith’s Fundsmith LLP is the largest Intuit Inc. (NASDAQ:INTU) stakeholder from the third quarter, holding 4.58 million shares valued at $2.47 billion.
Here is what Cooper Investors has to say about Intuit Inc. (NASDAQ:INTU) in its Q3 2021 investor letter:
“The other meaningful deal during the quarter was Intuit’s acquisition of Mailchimp for $12bn. Intuit has reinvented itself over the last decade and thrived with a leadership position in QuickBooks Online, the financial accounting software for small businesses (effectively the ‘Xero of the US’). We originally invested in Intuit in February 2020, excited by the QuickBooks prospects.
Management has executed exceptionally well on the opportunity set which has seen the shares double since our initial purchase. However, the company has now conducted two meaningful deals in Mailchimp and Credit Karma worth a combined US$20bn over the last 12 months. The investment proposition has shifted from a focus on QuickBooks to now being a financial and small business software conglomerate. We continue to very much admire the company, but with Intuit now trading on 50x forward earnings we no longer see such attractive latency on offer, nor the rewards for the level of execution risk and thus we have exited the position.”
7. Airbnb, Inc. (NASDAQ:ABNB)
Stanley Druckenmiller’s Stake Value: $84,102,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 2.73%
Number of Hedge Fund Holders: 58
Airbnb, Inc. (NASDAQ:ABNB) is a California-based company that offers an online marketplace for renting hotels, lodgings, and vacation resorts, providing a dedicated website and mobile app for its customers. Airbnb, Inc. (NASDAQ:ABNB) is a significant contributor to the hospitality and tourism industry, and challenges the traditional hotel industry.
Airbnb, Inc. (NASDAQ:ABNB) stock represents 2.73% of Stanley Druckenmiller’s Q3 investments, with the billionaire holding an $84.1 million position in the company as of September this year.
Airbnb, Inc. (NASDAQ:ABNB), on November 4, posted its Q3 earnings. EPS in the period amounted to $1.23, topping estimates by $0.40. The $2.24 billion revenue also outperformed revenue estimates by $181.63 million.
UBS analyst Lloyd Walmsley on December 2 initiated coverage of Airbnb, Inc. (NASDAQ:ABNB) with a Neutral rating and a $176 price target, as part of a broader research note on online travel.
Jim Simons’ Renaissance Technologies is one of the leading Airbnb, Inc. (NASDAQ:ABNB) stakeholders from Q3 2021, with 2.77 million shares worth $465.3 million. Overall, 58 funds in the database of Insider Monkey were bullish on Airbnb, Inc. (NASDAQ:ABNB) at the end of September, with total stakes amounting to $2.71 billion.
Like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Airbnb, Inc. (NASDAQ:ABNB) is gaining the attention of elite hedge funds.
Here is what Polen Capital has to say about Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter:
“We believe Airbnb has substantial competitive advantages in a large, fast-growing, and global market. Airbnb acts as a “System of Trust” in the private rental accommodations market, removing a considerable amount of friction so hosts can trust unknown guests and guests can trust unknown hosts/properties.
We believe Airbnb has an attractive growth runway given its unique inventory, powerful platform, and system enhancements that further reduce user friction.
We see Airbnb as well-positioned to benefit from secular growth in travel, the increasingly mainstream nature of private rentals, and as hybrid work/travel can lead to more frequent and longer stays. Unlike traditional online travel agencies like Booking.com and Expedia, Airbnb’s user traffic comes almost entirely directly, which speaks to the brand’s strength. This also means that Airbnb does not need to pay Google or other meta-search engines nearly as much money for generating booking leads, which is a favorable structural business model advantage in our view. We expect the company’s bookings and revenue to compound at a high-teens rate or better over the next five years and margins to expand by thousands of basis points as it scales its fixed costs base, leading to 40%+ earnings per share growth over that period.”
6. Booking Holdings Inc. (NASDAQ:BKNG)
Stanley Druckenmiller’s Stake Value: $103,332,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 3.35%
Number of Hedge Fund Holders: 96
Stanley Druckenmiller increased his stake in Booking Holdings Inc. (NASDAQ:BKNG) by 46% in the third quarter, holding 43,529 shares worth $103.3 million, accounting for 3.35% of his total Q3 investments. Booking Holdings Inc. (NASDAQ:BKNG) is a travel technology company operating multiple travel metasearch engines and travel fare aggregators, including Booking.com, Kayak.com, and Cheapflights, among others.
Booking Holdings Inc. (NASDAQ:BKNG) announced its Q3 results on November 3. EPS in the period amounted to $37.70, beating estimates by $4.67. The quarterly revenue totaled $4.68 billion, gaining 77.12% year-over-year, exceeding estimates by $385.44 million.
As part of his research on the online travel sector, UBS analyst Lloyd Walmsley initiated coverage of Booking Holdings Inc. (NASDAQ:BKNG) with a Buy rating and a $2,838 price target on December 2.
Of the 96 hedge funds that were bullish on Booking Holdings Inc. (NASDAQ:BKNG) in Q3 2021, Harris Associates is the leading Booking Holdings Inc. (NASDAQ:BKNG) stakeholder, with 668.053 shares worth $1.58 billion.
In addition to Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Booking Holdings Inc. (NASDAQ:BKNG) is a notable tech stock in Stanley Druckenmiller’s Q3 portfolio.
Here is what L1 Capital has to say about Booking Holdings Inc. (NASDAQ:BKNG) in its Q3 2021 investor letter:
“We reinvested the proceeds from our successful investment in Thermo Fisher in Booking Holdings (Booking). Booking was an investment in the Fund at Inception and was featured in our inaugural June 2019 Quarterly Report. The company owns the world’s largest online travel agent (OTA), Booking.com. To say the past 2.5 years has been volatile for Booking is a major understatement. Booking’s management has had to address the COVID-19-driven collapse in demand for travel accommodation, as well as to manage volatile demand as the world gradually recovers, interrupted by second and third waves of COVID-19 as variants arise.
Throughout these volatile market conditions, Booking’s management has executed against a consistent strategy, investing in its platform and network of accommodation providers, and expanded its associated services while improving efficiencies. We believe Booking will come out of the COVID-19 environment a stronger business, with less competition and consumers more predisposed to booking their travel accommodation online. Travel is recovering strongly as vaccination rates increase and COVID-19 related restrictions are lifted, and we expect Booking’s earnings and cash flow to also recover strongly over the coming years.”
5. Expedia Group, Inc. (NASDAQ:EXPE)
Stanley Druckenmiller’s Stake Value: $149,851,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 4.86%
Number of Hedge Fund Holders: 78
Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company facilitating customers with its travel fare aggregators and travel metasearch engines, including Expedia.com, Travelocity, and Hotels.com, among others. Increasing his stake in Expedia Group, Inc. (NASDAQ:EXPE) by 81% in the third quarter, Druckenmiller holds 914,282 shares of the company, worth $129.85 million, representing 4.86% of the billionaire’s total Q3 securities.
Expedia Group, Inc. (NASDAQ:EXPE) announced on November 4 its Q3 results, with an EPS of $3.53, beating estimates by $1.77. The revenue totaled $2.96 billion, up almost 97% from the preceding-year quarter, exceeding estimates by $243.16 million.
On December 2, as part of his research on the online travel sector, UBS analyst Lloyd Walmsley initiated coverage of Expedia Group, Inc. (NASDAQ:EXPE) with a Neutral rating and a $173 price target.
Daniel Sundheim’s D1 Capital Partners is the leading Expedia Group, Inc. (NASDAQ:EXPE) stakeholder, holding a $1.88 billion position in the company as of September end. Of the 867 hedge funds tracked by Insider Monkey in the third quarter, 78 funds were long Expedia Group, Inc. (NASDAQ:EXPE), down from 87 funds in the prior quarter.
Here is what ClearBridge Investments has to say about Expedia Inc. (NASDAQ:EXPE) in its Q1 2021 investor letter:
“Several of our better performers in the first quarter were purchased while their business models were under stress from COVID restrictions or the macro environment the pandemic created. What gave us confidence in purchasing Expedia were the actions the company took to extend out their balance sheets until travel resumed. It should benefit as a broader vaccination rollout prompts cruise lines to resume operations and consumers to start traveling again and are positioned to deliver better margins and gain pricing power as the economy normalizes due to the cost controls implemented during the downturn.”
4. Microsoft Corporation (NASDAQ:MSFT)
Stanley Druckenmiller’s Stake Value: $219,246,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 7.11%
Number of Hedge Fund Holders: 250
Microsoft Corporation (NASDAQ:MSFT), a Big Five US tech firm offering consumer electronics, computer software, and related technology products and services, is one of the top tech stock picks of Stanley Druckenmiller from the third quarter, accounting for 7.11% of the billionaire’s 13F securities. Druckenmiller holds 777,689 Microsoft Corporation (NASDAQ:MSFT) shares, valued at $219.2 million.
Microsoft Corporation (NASDAQ:MSFT) is a highly sought after stock among the smart money. A total of 250 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT) as of Q3 2021, which is an increase compared to the preceding quarter, when 238 funds reported owning stakes in the company, as per Insider Monkey’s database of elite hedge funds.
Microsoft Corporation (NASDAQ:MSFT) announced its Q3 earnings on October 26, posting an EPS of $2.27, beating estimates by $0.19. The quarterly revenue equaled $45.32 billion, surpassing revenue estimates by $1.33 billion.
Michael Turrin from Wells Fargo stated on December 2 that Microsoft Corporation (NASDAQ:MSFT), despite its massive scale of operations, has room for potential growth via Dynamics 365, Power Platform, and Power Automate. He kept an Overweight rating on the stock.
Ken Fisher’s Fisher Asset Management is the largest Microsoft Corporation (NASDAQ:MSFT) stakeholder from Q3, owning 25.52 million shares in the company worth $7.19 billion.
Here is what Alger has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2021 investor letter:
“Microsoft Corporation was among the top contributors to performance during the third quarter. Microsoft is a Positive Dynamic Change beneficiary of corporate America’s transformative digitization. Microsoft’s enterprise cloud product, Azure, is rapidly growing and accruing market share. Microsoft reported that Azure grew 51% in the second quarter. This high unit volume growth is a primary driver of the company’s higher share price, but the company’s strong operating execution has enabled margin expansion that has also helped to increase forward earnings estimates. We believe Microsoft’s subscription-based software offerings and cloud computing services have a durable growth profile because they enhance customers’ growth initiatives and help them to diminish costs. Additionally, investors appreciate Microsoft’s strong free cash flow generation and its return of cash to shareholders in the form of dividends and share repurchases.”
3. Alphabet Inc. (NASDAQ:GOOG)
Stanley Druckenmiller’s Stake Value: $312,786,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 10.15%
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) is one of the largest US tech firms, and it is most commonly recognized for being the parent company of all Google subsidiaries. Alphabet Inc. (NASDAQ:GOOG) posted its Q3 earnings on October 26. EPS in the quarter equaled $27.99, outperforming estimates by $4.75. The $65.12 billion revenue jumped 41% year-over-year, beating estimates by $1.83 billion.
Stanley Druckenmiller increased his position in Alphabet Inc. (NASDAQ:GOOG) by 29% in the third quarter, owning 116,994 shares in the company, worth $312.78 million. Alphabet Inc. (NASDAQ:GOOG) stock represents 10.15% of the billionaire’s Q3 portfolio.
Morgan Stanley analyst Brian Nowak, keeping in mind the exceptional Q3 results, raised the price target on Alphabet Inc. (NASDAQ:GOOG) shares to $3,200 from $3,000 and kept an Overweight rating on the shares on November 2.
Alphabet Inc. (NASDAQ:GOOG) is a popular stock among the hedge funds, with 156 funds holding stakes in the company as of Q3 2021, worth almost $35 billion. The leading Alphabet Inc. (NASDAQ:GOOG) stakeholder is Chris Hohn’s TCI Fund Management, owning 2.95 million shares amounting to $7.86 billion.
Here is what Oakmark Funds has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:
“Alphabet, a U.S. communication services provider, was once again a top contributor for the quarter, solidifying its rank as a top contributing stock for the one-year period. The company’s financial results repeatedly exceeded expectations. In particular, its revenue grew faster than expected and its margin trends improved across all segments. In addition, management has executed $24.4 billion of stock repurchases so far in 2021. After further examination, we recently increased our estimate of Alphabet’s intrinsic value based on the company’s better than expected operating leverage and its notable efficiency improvements. As a result, we continue to believe that Alphabet is trading at a significant discount to its intrinsic value.”
2. Amazon.com, Inc. (NASDAQ:AMZN)
Stanley Druckenmiller’s Stake Value: $320,508,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 10.40%
Number of Hedge Fund Holders: 242
Jeff Bezos’ Amazon.com, Inc. (NASDAQ:AMZN) is engaged in ecommerce, online streaming, digital advertising, on-demand services, and artificial intelligence, and is one of the most notable tech stocks from Stanley Druckenmiller’s Q3 portfolio. Druckenmiller holds a $320.5 million stake in Amazon.com, Inc. (NASDAQ:AMZN), which accounts for 10.4% of his total investments from the third quarter.
Amazon.com, Inc. (NASDAQ:AMZN), on October 28, posted its Q3 earnings. EPS for the quarter came in at $6.12, missing estimates by -$2.78. The Q3 revenue equaled $110.81 billion, missing revenue estimates by -$784.89 million.
UBS analyst Kunal Madhukar assumed coverage of Amazon.com, Inc. (NASDAQ:AMZN) on December 2 with a Buy rating and a $4,700 price target, stating that the tech giant has multiple levers to drive margins.
Hedge funds pulled back on Amazon.com, Inc. (NASDAQ:AMZN) in Q3 2021, with 242 funds holding stakes in the company as compared to 271 funds being bullish on Amazon.com, Inc. (NASDAQ:AMZN) in the preceding quarter. Fisher Asset Management is one of the leading stakeholders of the company, holding a $6.34 billion position in the third quarter.
Here is what Madison Funds has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter:
“We did add a modest new position weight to the portfolio in the quarter in Amazon.com, Inc. stock (AMZN). We acknowledge that many aspects of Amazon’s merit as an investment are well appreciated. However, our work leads us to conclude that shares are attractive. Leadership positions in both e-commerce and cloud computing provide the company with significant durable competitive advantages in industries that we think can produce above average growth over the next decade. Over the past year, AMZN shares have trailed the market as investors debate near-term growth prospects following the pandemic-induced e-commerce demand. Additionally, margins have been depressed due to Amazon’s unprecedented increases in spending to build out fulfillment and in-house logistics capabilities – Amazon will build out more square footage this year and last than it did cumulatively over the previous 10 years, more than doubling its in-house delivery capacity. We like the investments Amazon is making and believe they will further advantage the company relative to other retailers, making it nearly impossible for competitors to match the same level of delivery speed and convenience. With its large and frequently engaged customer base, Amazon has multiple mechanisms to make money, including selling advertising and enhanced subscription services. Within the cloud business, we forecast Amazon Web Services (AWS) leveraging its strengths in Infrastructure-as-a-service (IaaS) to move into higher value segments of cloud computing (such as platform-as-a-service: PaaS), allowing the company to continue outgrowing the overall IT sector with strong profitability. While Amazon shares have performed extremely well over the long-term, we think near-term concerns about whether Amazon will earn a return on its accelerated investments provide an opportunity now for investors willing to look through the investment period. Our view is that the investments likely earn strong returns and extend Amazon’s competitive advantages and above average growth.”
1. Coupang, Inc. (NYSE:CPNG)
Stanley Druckenmiller’s Stake Value: $431,845,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 14.02%
Number of Hedge Fund Holders: 45
Coupang, Inc. (NYSE:CPNG) is a new arrival in Stanley Druckenmiller’s investment portfolio, with the billionaire acquiring 15.5 million shares in the company in the third quarter, valued at $431.8 million, representing 14.02% of his total investments. Coupang, Inc. (NYSE:CPNG), the biggest South Korean ecommerce company offering an extensive online marketplace, is the largest holding in Druckenmiller’s Q3 portfolio.
Coupang, Inc. (NYSE:CPNG), on November 12, announced its Q3 results, posting an EPS of -$0.19, missing estimates by -$0.05. The revenue amounted to $4.64 billion, missing analysts’ consensus estimates by $196.75 million.
On November 15, Mizuho analyst James Lee lowered the firm’s price target on Coupang, Inc. (NYSE:CPNG) to $32 from $40 and kept a Neutral rating on the shares, citing mixed Q3 results and cost constraints due to COVID-19 and increased investments in the food and delivery segment.
Neil Mehta’s Greenoaks Capital is the leading Coupang, Inc. (NYSE:CPNG) stakeholder, holding over 209 million shares in the company worth $5.83 billion. Overall, 45 hedge funds in the Q3 database of Insider Monkey reported owning stakes in Coupang, Inc. (NYSE:CPNG), worth over $10.76 billion.
You can also take a look at 11 Best Young Stocks To Buy Now and 10 Best Dividend Stocks For Steady Growth.
Follow Insider Monkey on Twitter
Suggested articles:
- Retirement Stock Portfolio: 10 Safe Dividend Stocks To Consider
- Berkshire Hathaway Stock Portfolio: 10 Long-Term Stock Picks
- 10 Best Tech Stocks Under $5
Disclosure: None. 10 Tech Stocks to Buy According to Billionaire Stanley Druckenmiller is originally published on Insider Monkey.
