In this article, we discuss 5 best stocks to buy now according to billionaire Nicholas Pritzker’s Tao Capital. If you want to see some more favorite stocks of the billionaire, click 10 Best Stocks to Buy Now According to Billionaire Nicholas Pritzker’s Tao Capital.
5. Tesla, Inc. (NASDAQ:TSLA)
Tao Capital’s Stake Value: $30,383,000
Percentage of Tao Capital’s 13F Portfolio: 9.28%
Number of Hedge Fund Holders: 91
Tesla, Inc. (NASDAQ:TSLA) is one of the most notable holdings of Nicholas Pritzker’s Tao Capital. The billionaire owns 28,750 Tesla, Inc. (NASDAQ:TSLA) shares despite slashing his stake by 50% in the fourth quarter of 2021. The $30.3 million stake accounts for 9.28% of Tao Capital’s Q4 13F securities. Tesla, Inc. (NASDAQ:TSLA) operates primarily as a manufacturer of electric vehicles and solar power solutions.
On April 8, Wedbush analyst Daniel Ives kept an Outperform rating and a $1,400 price target on Tesla, Inc. (NASDAQ:TSLA) after Elon Musk’s announcement that the company’s Austin flagship plant will employ up to 10,000 workers and manufacture the Cybertruck, the Semi, Model 3, and the core Model Y in 2023. Tesla, Inc. (NASDAQ:TSLA)’s recent achievements trump other EV players in the market, the analyst told investors in a bullish thesis.
In 2021, Tesla, Inc. (NASDAQ:TSLA)’s full-year revenue of $53.8 billion exceeded the previous year’s $31.5 billion revenue. Net income sharply increased in 2021 to $5.5 billion from $721 million in 2020.
According to Insider Monkey’s data, hedge fund sentiment around Tesla, Inc. (NASDAQ:TSLA) was extremely bullish. In the fourth quarter of 2021, 91 hedge funds were long Tesla, Inc. (NASDAQ:TSLA), compared to 60 funds in the previous quarter. ARK Investment Management is a prominent stakeholder of the company, with 1.92 million shares worth over $2 billion.
Here is what ClearBridge Investments Global Growth Strategy has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2021 investor letter:
“Within the growth universe we target, emerging growth stocks – the category with the highest revenue growth rates – significantly underperformed the overall growth categories in 2021 after leading performance in 2020. The pull-through effect on digitization, online access across industries, and spending to modernize outdated corporate infrastructures accelerated trends in a highly compressed time frame. Much of that trend slackened in 2021 and shares of these companies, while showing good top-line growth, saw slowing appreciation from the blistering pace in the prior year. With that moderating growth, multiples decelerated from 2020 highs. Bucking the headwinds among our emerging growth names was Tesla which saw continued sales momentum from their leadership positions in the key growth areas of electric vehicles.”
