In this article we discuss the 5 best growth stocks to buy in 2021 and hold. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Growth Stocks to Buy and Hold for Several Years.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, advertising technology one of the fastest growing industries right now, so we are checking out stock pitches like this under-the-radar adtech stock that can deliver 10x gains. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind, let’s take a look at the best growth stocks for the long-term:
5. Sea Limited (NYSE: SE)
Number of Hedge Fund Holders: 98
Sea Limited (NYSE:SE) is a growth powerhouse operating businesses which have a huge long-term growth potential, including Shopee (ecommerce), Garena (mobile games), SeaMoney (digital payments), among others. Sea Money is also among the stocks which the best-performing hedge funds are buying.
BofA recently upgraded Sea Limited (NYSE:SE) from Neutral to Buy and upped its price target for the stock to $340 from $260. The firm said Sea Ltd’s Shopee is surpassing growth estimates in Southeast Asia and achieving “rapid success” in Latin America. BofA also likes the success of the company’s game Free Fall.
Our calculations show that Sea Limited (NYSE:SE) ranks 22nd in our list of the 30 Most Popular Stocks Among Hedge Funds.
Tiger Global Management LLC is one of the 98 hedge funds tracked by Insider Monkey having stakes in SE at the end of the first quarter. The fund owns over 9.5 million shares of the company.
In its Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and Sea Ltd (NYSE:SE) is one of them. Here is what the fund said:
“Singapore-based Sea maintains leading positions in Southeast Asia in video games and e-commerce and operates an emerging digital payments and banking business. While the company is investing heavily into e-commerce and payments, this growth is being funded by its highly profitable gaming segment. We see a long runway for growth across Sea’s businesses with multiple opportunities like e-commerce expansion in Latin America not fully factored into the valuation today. The company also has a well-respected management team that has successfully executed in expanding its total addressable market. Along with existing holding Alibaba, Sea provides exposure to secular growth trends in emerging markets that are harder to replicate through U.S. stocks.”
