12 Best Gig Economy Stocks To Buy

In this article, we discuss the 12 best gig economy stocks to buy.

Gig Economy: An Introduction

The gig economy refers to a labor market characterized by short-term, freelance, or independent contractor positions, where individuals are hired on a temporary or flexible basis to complete specific tasks or projects. Gig workers are independent contractors who typically find work through online platforms or apps that connect them with clients or customers who are looking for various kinds of services such as coding, writing, and graphic designing, among others.

The COVID-19 pandemic was one of the main growth catalysts for gig workers and the number of these independent contractors is rising rapidly. According to a report by MBO Partners, 45% of the US American workforce worked as independent contractors in 2023. Between 2020 and 2023, the number of independent workers grew by 89%. The report states that 40% of the gig workers said that they used online platforms to find work over the last 12 months and 47% are planning to use them over the next 12 months.

Gig Work Statistics

According to Business Research Insights, the global gig economy market was valued at $14.75 billion in 2021. It is expected to grow at a compound annual growth rate (CAGR) of 20% between 2023 and 2031, reaching $92.9 billion at the end of the forecasted period. A report by the gig economy company, Upwork Inc. (NASDAQ:UPWK), posted in October 2023, revealed that Gen Z and millennials are the top earners in the gig economy with 45% of the former and 44% of the latter group making at least $2,500 a month from the platform. Moreover, as of 2022, North American and Western European citizens have the highest average freelance rates at $44 and $31 per hour, respectively. It is followed by South America at $24 per hour and Central America, Asia, Africa, and Central and Eastern Europe are all tied at $22 per hour.

Gig Economy Stocks to Thrive Amidst Secular Shift

On February 16, MoffettNathanson’s senior research analyst, Michael Morton told CNBC that the last 12 months have been quite positive for the gig economy stocks. He said that initially, the industry was considered a weak domain by investors because it consumed $125 billion of investor capital between 2015 and 2022 while being focused on expanding market share rather than increasing profitability. However, over the last year, companies like Uber Technologies, Inc. (NYSE:UBER) and DoorDash, Inc. (NASDAQ:DASH) have experienced a “profitability explosion” due to their corporate decisions. Morton added that according to his firm, the total addressable market for the gig economy industry is around $4 trillion. He noted that grocery delivery is a trillion-dollar market that is “underpenetrated”, and there is a chance that Uber Technologies, Inc. (NYSE:UBER) and DoorDash, Inc. (NASDAQ:DASH) could also capture a noteworthy share of this market very soon.

Micheal Morton mentioned that he has heard people refer to Uber Technologies, Inc. (NYSE:UBER) and DoorDash, Inc. (NASDAQ:DASH) as “undeletable apps” and noted several growth prospects for these companies. They are some of the biggest gig economy companies in the world. Uber Technologies, Inc. (NYSE:UBER) posted its FY23 earnings on February 7, reporting that its gross bookings were up 19% year-over-over, and it generated a revenue of $37.28 billion, up 17% year-over-year. The company reported a net income of $1.887 billion, compared to a net loss of $9.14 billion in FY22.

While Uber Technologies, Inc. (NYSE:UBER) seems to have a promising future, it faced several headwinds in the first quarter of 2024 due to which its earnings and revenues declined slightly. It reported its Q1 earnings on May 8 with a loss per share of $0.32. Nevertheless, the company’s revenue was up 15%  year-over-year at $10.1 billion, and income from operations was $172 million, up $434 million from Q1 2023. The company reached an adjusted EBITDA of $1.4 billion, up 82% year-over-year, marking a new quarterly record for Uber Technologies, Inc. (NYSE:UBER). The company also generated a free cash flow of $4.2 billion over the trailing twelve months. The company’s CFO, Prashanth Mahendra-Rajah, made the following remarks:

“Q1 marked another strong quarter for Uber. Gross Bookings growth remained consistent at 21% YoY on a constant-currency basis (22% excluding Freight), as we generated Gross Bookings of $37.7 billion. We landed just shy of our guidance midpoint, with softer Mobility activity in LatAm as we lapped heightened demand during Carnival last year, coupled with the impact of holidays shifting into Q1 of this year. Foreign exchange was a headwind of roughly $205 million YoY or roughly 70 bps. We grew our revenue by 15% YoY on a constant-currency basis to $10.1 billion, which includes a 8 percentage point YoY headwind related to business model changes. As a reminder, certain business model changes, which have no impact on profitability, negatively impacted revenue reporting by $742 million. We expect to lap the majority of these business model changes in the second half of this year.

We converted this strong top-line growth into solid profitability, with all-time high Adjusted EBITDA of $1.4 billion, up 82% YoY, and a record Adjusted EBITDA margin of 3.7% of Gross Bookings, an increase of 130 bps YoY. We intentionally held back some of our in-market Mobility investments with lower ROI as Q1 is typically a lighter quarter due to seasonal Mobility rider behaviors. We remain focused on striking the right balance between growth and profitability, and running Uber to deliver on the 3-year financial framework we set in February.”

On February 15, DoorDash, Inc. (NASDAQ:DASH) reported a net loss attributed to the company and shareholders of $558 million for FY23, compared to a net loss of $1.365 billion in FY22. The company generated a revenue of $8.6 billion in 2023, compared to $6.58 billion in 2022. It announced its first quarter 2024 earnings on May 1, reporting an EPS of -$0.06. The company’s GAAP net loss including redeemable non-controlling interests was $25 million, down from $162 million in Q1 2023. The revenue for the quarter was $2.51 billion, up 23% year-over-year, which outperformed the analyst estimates by $60 million. At DoorDash, Inc.’s (NASDAQ:DASH) Q1 earnings call, the CEO Ravi Inukonda said:

“…consumer engagement and spending on the platform continues to be very strong. You can see that in our strong Q1 results, as well as the double-digit growth rate that we have driven consistently for the last two years in a row. I am not going to comment on the month-to-month, but it continues — order frequency continues to be very good.

In fact, it’s an all-time high. Retention continues to be very strong in the business, retention this past quarter is higher than the prior quarter. We feel very confident about the input metrics we are seeing and I feel very good about the guidance for Q2.”

As mentioned by Michael Morton, the gig economy industry is expected to grow significantly in the future with a $4 trillion total addressable market, and companies are rushing to capture a major chunk of it. Some of the best gig economy stocks include Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Uber Technologies, Inc. (NYSE:UBER). If you want to be a part of the gig economy, we discussed a few related ideas in our article, 27 Passive Income Ideas to Make Money & Build Wealth in 2024.

12 Best Gig Economy Stocks To Buy

Our Methodology

For this article, we scoured through the holdings of SoFi Be Your Own Boss ETF (NASDAQ:GIGE) and checked several financial media websites, including our April 2023 article about the best gig economy stocks to create a list of 25 gig economy stocks. We narrowed down our list to 12 stocks that were most widely held by institutional investors and were providing gig work opportunities.

The hedge fund data was taken from Insider Monkey’s database of 933 elite hedge funds. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

12 Best Gig Economy Stocks To Buy

12. Maplebear Inc. (NASDAQ:CART)

Number of Hedge Fund Holders: 38

Maplebear Inc. (NASDAQ:CART), known as Instacart, provides gig workers with delivery work opportunities for its online grocery shopping services. At a stake value of $1.36 billion, 38 hedge funds held positions in Maplebear Inc. (NASDAQ:CART). As of December 31, 2023, D1 Capital Partners is the top shareholder in the company and has a position worth $678.493 million.

According to TipRanks, Maplebear Inc. (NASDAQ:CART) has a consensus rating of Moderate Buy as per the 12 Wall Street analysts that have covered it over the past three months. The average price target of $40.00 implies an upside of 9.50% from the last price of $36.53, as of May 6.

Maplebear Inc. (NASDAQ:CART) joins Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Uber Technologies, Inc. (NYSE:UBER) on our list of the best gig economy stocks to buy.

11. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 39

Lyft, Inc. (NASDAQ:LYFT) is one of the biggest ride-sharing businesses in the U.S. and provides gig workers with flexible work opportunities in the form of ride-hailing services.

On April 18, Tigress Financial raised the price target on Lyft, Inc. (NASDAQ:LYFT) to $24 from $22 and maintained a Buy rating on the shares.

Over the last twelve months, Lyft, Inc. (NASDAQ:LYFT) has gained nearly 105.15%, as of May 6. Additionally, the company has recorded a trailing twelve-month EPS growth of 79.67%, and over the last 5 years, its EPS grew by 22.39%.

In the fourth quarter of 2023, 39 hedge funds had stakes in Lyft, Inc. (NASDAQ:LYFT), with total positions worth $784.225 million. D E Shaw has increased its stake in the company by 28% to 9.5 million shares worth $142.82 million and is the most dominant shareholder as of the fourth quarter of 2023.

10. eBay Inc. (NASDAQ:EBAY)

Number of Hedge Fund Holders: 42

eBay Inc. (NASDAQ:EBAY) contributes majorly to the gig economy as people can offer their products and services on its online platform and earn on a job-by-job basis. eBay Inc. (NASDAQ:EBAY) was part of 42 funds’ portfolios and the total stake value was $1.131 billion in the fourth quarter of 2023. As of Q4 of 2023, Harris Associates is the top shareholder in the company and has a position worth $199.660 million. eBay Inc. (NASDAQ:EBAY) is one of the best gig economy stocks to buy.

On May 2, eBay Inc. (NASDAQ:EBAY) announced a quarterly dividend of $0.27, payable by June 14 to the shareholders of record on May 31. As of May 6, the stock has a dividend yield of 2.19%.

9. IAC Inc. (NASDAQ:IAC)

Number of Hedge Fund Holders: 44

IAC Inc. (NASDAQ:IAC) is a media and internet company that is engaged in the gig economy through its various subsidiaries, including Bluecrew, Care.com, and others. Bluecrew offers temporary staffing services and Care.com helps people find caregivers such as pet sitters, babysitters, and senior care providers, among others. On May 3, KeyBanc lowered the price target on IAC Inc. (NASDAQ:IAC) to $64 from $72 and kept an Overweight rating on the shares.

In the fourth quarter of 2023, 44 hedge funds held positions in IAC Inc. (NASDAQ:IAC) and their stakes amounted to $1.1 billion. As of December 31, 2023, ShawSpring Partners is the most prominent shareholder in the company and has a position worth $187,866 million.

TimesSquare Capital Management made the following comment about IAC Inc. (NASDAQ:IAC) in its Q3 2023 investor letter:

“For the Communications Services sector, we generally prefer to invest in media and services companies that are either well placed from an advertising perspective with a target audience or provide differentiated services. IAC Inc. (NASDAQ:IAC) is engaged in the media and Internet business. Its two core business segments are Dotdash Meredith and ANGI Homeservices. Dotdash Meredith provides digital and print publishing services. ANGI Homeservices offers a gateway to repair, remodeling, cleaning, and other services. While Dotdash Meredith results were in line, ANGI fell short of expectations as they are shifting their focus to high-quality customers to generate more profitability. Shares of IAC fell -20% on this report and we added to the position on weakness.”

8. United Parcel Service, Inc. (NYSE:UPS)

Number of Hedge Fund Holders: 46

United Parcel Service, Inc. (NYSE:UPS) provides gig delivery services through its subsidiary, Roadie. In Q4 of 2023, 46 hedge funds held stakes in United Parcel Service, Inc. (NYSE:UPS), with positions worth $2.16 billion. As of the fourth quarter of 2023, Viking Global is the most dominant shareholder in the company with a position worth $1.289 billion.

United Parcel Service, Inc. (NYSE:UPS) is eighth on our list of the best gig economy stocks to buy. On May 1, the company declared a quarterly dividend of $1.63, payable by May 30 to the shareholders of record on May 13. The stock’s dividend yield is 4.45%, as of May 6.

ClearBridge Investments made the following comment about United Parcel Service, Inc. (NYSE:UPS) in its Q3 2023 investor letter:

“A higher-for-longer rate mentality taking hold was a headwind for economically sensitive stocks. Rising wages have been one of the main drivers of inflation, and this has proved to be a sticky area, keeping the Fed’s attention and weighing on share prices. For example, United Parcel Service, Inc. (NYSE:UPS) renegotiated a wage increase for its union-backed workforce this summer, which weighed on margins that were already being constricted by slowing volumes. While the new union deal will dampen profits over the next 12 months due to the front-end-loaded nature of the new five-year contract, management gained increased flexibility to deploy automation, which we think should further enhance UPS’s strong competitive position and provide a long-term tailwind to profitability.”

7. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 50

Airbnb, Inc. (NASDAQ:ABNB) offers a marketplace for homeowners to rent out their property for a short term. 50 hedge funds had investments in Airbnb, Inc. (NASDAQ:ABNB) with positions worth $1.6 billion. As of December 31, 2023, the biggest shareholder of the company is Orbis Investment Management and the firm has a position worth $179.76 million.

On April 24, Mizuho analyst James Lee upgraded Airbnb, Inc. (NASDAQ:ABNB) to Buy from Neutral and increased the price target to$200 from $150.

Polen Capital stated the following regarding Airbnb, Inc. (NASDAQ:ABNB) in its first quarter 2024 investor letter:

“During the quarter, we initiated new positions in Sage Group and Airbnb, Inc. (NASDAQ:ABNB) and added to our existing position in Globant.

Airbnb is a great business model, according to our research, due to its two-sided global network effects. For several reasons, Airbnb has a better mousetrap with its supply growth engine, with its hosts having a far lower cost of capital and more flexibility than hotels. We think private rentals should continue to grow their share of overall accommodation stays, potentially up to 30% of lodging or higher over the long term, letting the private rental gross booking value grow at a low double-digit rate. We also think Airbnb should continue to gain share within the private rental market as its global network effects strengthen, allowing for mid-teens revenue growth. With flat to rising margins over time, significant free cash flow generation, and a management team that has demonstrated its owner orientation, this should result in high-teens EPS growth over time. While the path there will not be linear, and it is a more discretionary spending-tied business, we think the long-term secular growth opportunity is very compelling.”

6. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Fund Holders: 64

DoorDash, Inc. (NASDAQ:DASH) is one of the most popular food delivery services in the U.S. and contributes to the gig economy as it connects restaurants to customers through its network of delivery drivers. According to our database, 64 hedge funds had stakes in the stock in the fourth quarter of 2023, with positions worth $3 billion. With 5.51 million shares of the company, valued at $545.22 million, Himension Capital is the most significant shareholder of the company, as of December 31, 2023.

DoorDash, Inc. (NASDAQ:DASH) has a consensus Buy rating among 19 analysts, and its average price target of $136.75 represents an upside of 16.29% from the last price of $117.59, as of May 6.

Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Uber Technologies, Inc. (NYSE:UBER) are some of the best gig economy stocks to buy, along with DoorDash, Inc. (NASDAQ:DASH).

RiverPark Advisors stated the following regarding DoorDash, Inc. (NASDAQ:DASH) in its first quarter 2024 investor letter:

“During the quarter, we initiated new GardenSM positions in DoorDash, Inc. (NASDAQ:DASH), GoDaddy and Vertiv. DoorDash is a technology-driven marketplace that enables couriers (Dashers) to deliver restaurant and other local orders on-demand to consumers. The company is a market leader in restaurant delivery, a business that continues to gain US market share (with healthy margins) and grow internationally. At the same time, heavy investment in newer businesses has limited company profitability. Most notably, grocery delivery is a largely untapped market due to inventory management challenges (in-person grocery shopping involves a high degree of product substitution). This business unit has been losing money. However, the company believes it has a competitive cost advantage given its existing Dasher network, and continued growth will lead to profitability—something it is not getting credit for by the market. The future near-term profit trajectory from new businesses is unclear, but we view management as very rational with its spending. Either these initiatives will yield additional profitable revenue streams, or they will be deprioritized in the coming years—in both scenarios, we expect solid profit growth over time.”

5. Shopify Inc. (NYSE:SHOP)

Number of Hedge Fund Holders: 68

Shopify Inc. (NYSE:SHOP) operates a marketplace that is the digital platform of choice for many gig workers where they set up their online stores to sell their goods and services. Shopify Inc. (NYSE:SHOP) was part of 68 hedge funds’ portfolios in Q4 of 2023 with a total stake value of $5.94 billion. GQG Partners is the most significant shareholder in the company and has a position worth $546.6 million, as of December 31, 2023.

On April 29, Citi upgraded Shopify Inc. (NYSE:SHOP) to Buy from Neutral and increased the price target to $105 from $93. It is one of the best gig economy stocks to buy.

Brown Capital Management stated the following regarding Shopify Inc. (NYSE:SHOP) in its fourth quarter 2023 investor letter:

“Among the top contributors for the fourth quarter were Shopify Inc. (NYSE:SHOP) and Manhattan Associates (MANH). Shopify is the second-largest cloud-based e-commerce software platform in the U.S., with 10% market share. Shopify provides upstarts and Fortune 500 companies alike with turnkey solutions to help individuals and businesses run their online stores. The range of services includes web design, inventory management, payment processing, analytics and reporting, among others. We believe the company is the most attractive alternative to Amazon and has an addressable market greater than $150 billion.

Shopify released stellar results this quarter, growing revenue 25% with meaningful margin expansion and management indicating more to come. Notably, the third quarter was Shopify’s first full quarter after deciding in May 2023 to abandon its in-house fulfillment and logistics ambitions which put significant pressure on margins. Additionally, competitive concerns from Amazon’s “Buy With Prime” initiative that launched in April 2022 also abated. The feature allows merchants selling outside of Amazon to access its fulfillment network and enjoy Prime benefits such as free deliveries and returns, posing a threat to Shopify’s payment-processing revenue. Instead of duking it out, Shopify and Amazon reached a partnership agreement in September that preserves customer choice and, to our knowledge, keeps Shopify’s payment revenues intact. With these key concerns in the rear-view mirror, Shopify should have a clear path to double-digit revenue growth and margin expansion for years.”

4. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 87

PayPal Holdings, Inc. (NASDAQ:PYPL) is used by freelancers all over the world for payment transactions, and the company’s subsidiary, Hyperwallet, is a payout platform from where contractors and freelancers receive payments.

On April 30, PayPal Holdings, Inc. (NASDAQ:PYPL) reported first-quarter earnings. The Q1 non-GAAP EPS was $1.40 and beat the consensus by $0.18. The revenue jumped 9.4% year-over-year to $7.7 billion, which surpassed the estimates by $180 million.

At a stake value of $2.33 billion, 87 hedge funds held positions in PayPal Holdings, Inc. (NASDAQ:PYPL). As of Q4 of 2023, Two Sigma Advisors is the largest shareholder in the company. In the quarter, the firm increased its stake by 90% to 7.496 million shares worth $460.335 million.

ClearBridge Investments stated the following regarding PayPal Holdings, Inc. (NASDAQ:PYPL) in its first quarter 2024 investor letter:

“Given our view that the overall market looks expensive, mostly due to mega cap valuations, the low likelihood that technology can continue to deliver well above market returns and an expected slowdown in economic growth, risk management has guided our recent positioning activity. We have been consistently trimming from the select bucket and redeploying into undervalued stable and cyclical names, while also being cognizant of position sizing to maintain the latitude to add to names when prices become attractive.

We were also active in adding to stable bucket investments PayPal Holdings, Inc. (NASDAQ:PYPL) and UnitedHealth Group where negative near-term sentiment led to more attractive risk/reward profiles. We added to electronic payments provider PayPal as we have growing confidence that new CEO Alex Chriss’s strategic focus areas can improve the company’s performance, particularly in the key branded business. We added to our UnitedHealth position after shares were pressured due to fears over competition among managed care providers and rising medical loss ratios in the industry. We believe the company will be able to “re-price” for higher medical costs, making this pressure transitory and we see competitive concerns as overblown.”

3. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 129

Uber Technologies, Inc. (NYSE:UBER) is one of the biggest names in the gig economy because of its successful network of connecting drivers to customers through its subsidiaries Uber, Uber Eats, Postmates, and others. The company is among the best gig economy stocks to buy.

Uber Technologies, Inc. (NYSE:UBER) has a consensus Buy rating among 35 analysts, and its average price target of $89.44 has an upside of 25.07% from the last price of $71.51, as of May 6.

In Q4 of 2023, 129 hedge funds had investments in Uber Technologies, Inc. (NYSE:UBER), with positions worth $8.74 billion. D E Shaw is the top investor in the company as of December 31, 2023, and has a position worth $886.123 million.

RiverPark Advisors stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its fourth quarter 2023 investor letter:

“Uber Technologies, Inc. (NYSE:UBER): UBER was a top contributor in the quarter following better than expected 3Q23 earnings and 4Q23 guidance. Gross bookings of $35.3 billion were up 21% year over year. Mobility gross bookings of $17.9 billion grew 30% over last year driven by a combination of product innovation and driver availability. Delivery gross bookings of $16 billion were up 16% from last year and continued to be strong throughout the quarter. 1Q Adjusted EBITDA of $1.1 billion, up $576 million year over year, was better than management’s guidance of $1 billion, and the company generated $900 million of free cash flow, up from $358 million last year. Management guided to continuing growth in 4Q Gross Bookings (23.5% growth) and Adjusted EBITDA (of $1.2 billion).

UBER remains the undisputed global leader in ride sharing, with a greater than 50% share in every major region in which it operates. The company is also a leader in food delivery, where it is number one or two in the more than 25 countries in which it operates.1 Moreover, after a history of losses, the company is now profitable, delivering expanding margins and substantial free cash flow. We view UBER as more than a ride sharing and food delivery service; we also see it as a global mobility platform with 142 million users (by comparison, Amazon Prime has 200 million members) and the ability to penetrate new markets of on-demand services, such as package and grocery delivery, travel, and hourly worker staffing. Given its $5.2 billion of unrestricted cash and $5.1 billion of investments, the company today has an enterprise value of $128 billion, indicating that UBER trades at 21x our estimates of next year’s free cash flow.”

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 293

Amazon.com, Inc. (NASDAQ:AMZN) is directly engaged in the gig economy through its various programs, including Delivery Service Partners (DSP), Amazon Flex, and Mechanical Turk, among others. Mechanical Turk allows people to earn by completing menial tasks and drivers use their own vehicles for delivery under Amazon Flex. Amazon.com, Inc. (NASDAQ:AMZN) was held by 293 hedge funds in the fourth quarter of 2023 and the stakes amounted to $50.884 billion. Fisher Asset Management is the most prominent shareholder of the company and has a position worth $6.348 billion as of the fourth quarter of 2023.

On May 2, HSBC raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) to $220 from $200 and kept a Buy rating on the shares.

Ithaka US Growth Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

“Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) has evolved from its early roots as an online bookstore to become one of the world’s largest eCommerce retailers. At the end of 2022 Amazon stood poised to capture ~40% of all US e-commerce sales, representing five times more share than the next closest competitor. In addition to eCommerce, Amazon Web Services (“AWS”) has become the market leader in outsourced cloud infrastructure. Further, Amazon Advertising is garnering significant share in digital advertising, particularly product placement ads, thanks to consumers beginning their product searches on Amazon’s site. Amazon’s stock appreciated on the back of stabilization of the company’s cloud computing segment and increased confidence the company would be able to contain expenses and push operating margins above prior peaks in the near-to-medium term.”

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 302

Microsoft Corporation (NASDAQ:MSFT) is involved in the gig economy through LinkedIn Corporation which provides tools and programs for freelancers to learn skills and market their services, including LinkedIn Service Marketplace, LinkedIn Learning, and others. LinkedIn Learning allows gig workers to learn skills needed in their line of work while LinkedIn Service Marketplace offers freelance-for-hire services.

On March 12, Microsoft Corporation (NASDAQ:MSFT) announced a quarterly dividend of $0.75, payable by June 13 to the shareholders of record on May 16. As of May 6, the stock has a dividend yield of 0.74%.

In the fourth quarter of 2023, 302 hedge funds had stakes in Microsoft Corporation (NASDAQ:MSFT) with total positions worth $87.3 billion. As of Q4 of 2023, the Bill & Melinda Gates Foundation Trust is the most dominant shareholder in the company and has a position worth $14.37 billion.

Ithaka Group stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its first quarter 2024 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) builds best-in-class platforms and provides services that help drive small business productivity, large business competitiveness, and public-sector efficiency. Microsoft’s products include operating systems, cross-device productivity applications, server applications, software development tools, video games, and business-solution applications. The company also designs, manufactures, and sells devices, including PCs, tablets, and gaming/entertainment consoles that all integrate with Azure, its cloud computing service. In the quarter Microsoft’s stock appreciated based on excitement surrounding the company’s positioning in the generative AI market and its ability to monetize the coming wave of corporate investment in supercomputing and AI, which will be through both Azure and Microsoft Copilot, the company’s new GenAI personal assistant.”

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Disclosure. None. 12 Best Gig Economy Stocks To Buy is originally published on Insider Monkey.