5 EV Stocks to Buy According to Cathie Wood

4. Garmin Ltd. (NASDAQ:GRMN)

Number of Hedge Fund Holders: 34    

Garmin Ltd. (NASDAQ:GRMN) makes and sells electronic components and devices. The company has partnered with EV maker Ford for incorporation of a communications and entertainment system made by the former for use in the cars of the latter. Securities filings show that ARK owned 87,487 shares of Garmin Ltd. (NASDAQ:GRMN) at the end of March 2022 worth $10.3 million, representing 0.04% of the portfolio. The company has been in the ARK portfolio since the first quarter of 2021. 

On May 6, Tigress Financial analyst Ivan Feinseth maintained a Strong Buy rating on Garmin Ltd. (NASDAQ:GRMN) stock and raised the price target to $208 from $205, appreciating the strong first quarter sales numbers from the company. 

At the end of the fourth quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $579 million in Garmin Ltd. (NASDAQ:GRMN), up from 30 in the previous quarter worth $465 million.