5 Best Robinhood Stocks To Buy According To Hedge Funds

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60    

Tesla, Inc. (NASDAQ:TSLA) is one of the few stocks that enjoys popularity among both hedge funds and retail investors who favor the Robinhood application. The EV firm is ranked fourth on our list of 11 best Robinhood stocks to buy according to hedge funds. The company has navigated the chip supply shortage over the past few months better than peers, reporting earlier today it had sold more than 56,000 EVs in China in September, an increase of 27% month-on-month despite the overall slump in car sales due to the chip crisis. 

Investment advisors like Wedbush, Deutsche Bank, and RBC Capital are all constructive on the stock heading into the fourth quarter despite the fact that Tesla, Inc. (NASDAQ:TSLA) has historically done most of the annual business in the first three quarters of the fiscal year. The firm recently announced plans to move headquarters from California to Texas as it expands operations in the US. 

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 in the previous quarter worth $10 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.”