15 High Growth Companies Hedge Funds Are Buying

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 126

Average 5-Year Revenue Growth: 33.81%

Tesla, Inc. (NASDAQ:TSLA) is one of the leading electric vehicle companies in the world, and it ranks 4th on our list of the top high growth stocks. On April 28, Cantor Fitzgerald reiterated an Overweight rating on Tesla and set a $355 price target. Despite a 30% drop in the stock this year, Cantor Fitzgerald remains bullish, citing strong finances and big plans ahead, like Robotaxis, a $30,000 model in 2025, and full self-driving expansion. The investment firm sees long-term growth in Tesla’s AI, energy storage, and robotics, calling the current dip a buying opportunity for patient investors.

Elon Musk recently announced that he will step back from his role in the US government’s DOGE advisory group to focus more on Tesla, Inc. (NASDAQ:TSLA), following a rough first quarter for the company. The company reported a 70% drop in profits and a 20% decline in car sales in the March quarter, and Musk’s political involvement has triggered protests and boycotts that may be hurting the brand. While he will remain involved with the government in a limited capacity, Musk said he will now dedicate more time to steering Tesla through uncertain times.

According to Insider Monkey’s fourth quarter database, 126 hedge funds were bullish on Tesla, Inc. (NASDAQ:TSLA), up from 99 funds in the prior quarter. Paul Marshall and Ian Wace’s  Marshall Wace LLP was one of the leading stakeholders of the company, with 3.8 million shares worth $1.5 billion.