5 Best Growth Stocks to Buy Right Now

4. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62  

Tesla, Inc. (NASDAQ: TSLA) is an electric vehicle maker that also has stakes in the clean energy business. The company’s chief Elon Musk, who has stirred up a storm around crypto stocks over his criticism of the energy intensive crypto mining methods, is still questioning the environmental impact of mining. In response to a tweet by Kraken’s CEO Jesse Powell that Bitcoin was greener than critics said, Musk responded by asking what data Powell had to support his argument. 

Coatue Management owns more than 1.6 million shares in Tesla, Inc. (NASDAQ: TSLA) that are worth around $1.08 billion. This represents 5.95% of its investment portfolio. Coatue has trimmed its position in the EV maker by 25% since the fourth quarter of 2020. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Tesla, Inc. (NASDAQ: TSLA)  with 24.4 million shares worth more than $16.3 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ: TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”