5 Best Tech and Dividend Stocks to Buy According to Billionaire Chase Coleman

1. Zoom Video Communications, Inc. (NASDAQ: ZM)

Coleman’s Stake Value: $787,226,000
Percentage of Chase Coleman’s 13F Portfolio: 1.81%
Number of Hedge Fund Holders: 54

Zoom Video Communications, Inc. (NASDAQ: ZM) is an American tech company providing video-conferencing and online-chat facility to its customers. Zoom stock has returned more than 66% to investors over the past year. The company was incorporated in 2011 and stands first on our list of 10 best tech and dividend stocks to buy according to billionaire Chase Coleman.

Last month SRAX, Inc., a financial technology company, united with Zoom Video to combine Zoom with the Sequire Audience feature in the Sequire platform. This collaboration will enable Sequire clients to host their meetings, webinars, or shows. On May 27, investment advisory UBS initiated coverage on Zoom stock with a “Neutral” rating and a price target of $325.00.

The hedge fund run by Chase Coleman owns more than 2.45 million shares in the tech company worth over $787 million, representing 1.81% of their investment portfolio. Tiger Global Management LLC has increased activity on Zoom stock by 70% in the past few months. Out of the hedge funds being tracked by Insider Monkey, ARK Investment Management is a leading shareholder in Zoom Video Communications, Inc. (NASDAQ: ZM), with 3 million shares worth more than $964 million.

Artisan Partners, in their Q1 2021 investor letter, mentioned Zoom. Here is what the fund said:

“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”

You can also take a peek at 10 Best Tech Stocks To Buy Now According To Billionaire Laffont and 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin. 

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