5 Best Software Stocks to Buy According to Cathie Wood

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1. Square, Inc. (NYSE: SQ)

Number of Hedge Fund Holders: 92

Square, Inc. (NYSE: SQ) is a California-based digital payments firm founded in 2009. It is ranked first on our list of 10 best software stocks to buy according to Cathie Wood. Square stock has offered investors close to 177% in returns over the past year. The hedge fund chaired by Wood holds close to 11 million shares in the company worth over $2.4 billion. It is the third largest holding of the New York-based fund. ARK activity on Square stock increased by 56% in the past few months. 

On May 26, Square, Inc. (NYSE: SQ) announced that it had entered into a deal with Noble to implement online payments processing for food and drinks at live events. The deal provides Square sellers with a concessions platform to enhance operations.

Out of the hedge funds being tracked by Insider Monkey, Texas-based investment firm Bares Capital Management is a leading shareholder in Square, Inc. (NYSE: SQ) with 4.9 million shares worth more than $1.1 billion. 

You can also take a peek at Eagle Capital’s Top 10 Stock Picks and Billionaire David Siegel’s Top 10 Stock Picks.

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