5 Best Self-Driving Stocks To Invest In

In this article, we will take a look at the five best self-driving stocks to invest in. If you want to check out a detailed analysis of the market and more stocks, head on to 10 Best Self-Driving Stocks To Invest In.

5. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 46

Ford Motor Company (NYSE:F) is an iconic American car maker that was set up by the legendary Henry Ford in 1903. The company is testing autonomous driving in 10 American cities and it plans to invest $7 billion in the segment by the end of 2025. The firm’s autonomous division is called Ford Next.

Despite the auto sector facing off with historic supply chain disruptions this year, Ford Motor Company (NYSE:F)’s second quarter of 2022 saw the company grow its revenue by 57%, as it managed to beat even Tesla. During the same time period, its unit sales also grew by 35% annually and the firm expects its electric vehicle business unit to grow by 90% during this year, faster than Tesla’s 50% growth. Finally, it also pays a 15 cent dividend for a 3.71% yield.

Citi increased Ford Motor Company (NYSE:F)’s share price target to $16 from $15 in August 2022, sharing that the second quarter results were impressive. 46 of the 912 hedge funds profiled by Insider Monkey for this year’s first quarter had invested in the company.

Ford Motor Company (NYSE:F)’s largest investor is D. E. Shaw’s D E Shaw which owns 31 million shares that are worth $528 million.

Baron Funds mentioned the company in its Q1 2022 investor letter as it shared that:

“Ford (NYSE:F) is another example of typical industrial manufacturing business executive mindsets. The April 18, 2022, Bloomberg Businessweek cover story features Ford CEO Jim Farley behind the wheel of an electrified Ford F-150 Lightning. The article is titled, “Hey Elon, THIS is a truck.” I thought the article was terrific. One idea especially stood out to me. Since the F-150 is such a popular vehicle, it “argued for a gradual approach to electrification. Essentially the company retrofitted an existing F-150 with an electric powertrain rather than develop an entirely new truck.” No all-in financial and operation bet by this company on electrification.”