In this article, we discuss the 5 fintech stocks to buy according to Cathie Wood. In order to read our detailed analysis of Wood’s hedge fund performance, stock selection and history, go directly to 10 FinTech Stocks to Buy According to Cathie Wood.
5. Bill.com Holdings, Inc. (NYSE:BILL)
ARK Investment Management’s 13 Portfolio: 0.15%
ARK Investment Management’s Stake Value: $35.94 million
Number of Hedge Fund Holders: 65
Up next on the list of best fintech stocks to buy according to Cathie Wood is Bill.com Holdings, Inc. (NYSE:BILL). The firm operates a cloud-based software which digitizes and automates financial operations for small and medium-sized companies around the world. The company’s list of clients also includes financial institutions and accounting firms.
ARK Investment Management owned roughly 158,000 shares of Bill.com Holdings, Inc. (NYSE:BILL) worth $35.9 million at the close of the first quarter of 2022, representing 0.15% of its total portfolio.
On May 6, BTIG analyst Matt VanVliet maintained a ‘Buy’ rating on Bill.com Holdings, Inc. (NYSE:BILL) shares and lowered the firm’s price target to $300 from $375. The analyst noted that the firm’s business performance is better than nearly every company in the market, with a 179% growth in revenue, 74% organic core growth, and above expectations cash flow and customer additions reported in the quarter.
Bill.com Holdings, Inc. (NYSE:BILL) reported its first quarter earnings on May 5, recording EPS at -$0.08 which beat estimates by $0.08. Revenue stood at $166.9 million for the quarter, above estimates by $9 million and up 179% year-on-year.
Out of all the hedge funds tracked by Insider Monkey, 65 were long Bill.com Holdings, Inc. (NYSE:BILL) at the close of Q4 2021, with combined stakes worth $3.8 billion. The same number of hedge funds were bullish on the company shares a quarter earlier as well.
Alger, an investment management firm, talked about Bill.com Holdings, Inc. (NYSE:BILL) in its Q4 2021 investor letter. The fund said:
“Bill.com Holdings, Inc., was among the top detractors from performance. Bill.com provides cloud-based software solutions that simplify, digitize, and automate complex back-office financial operations for small and medium size businesses. Its software helps customers to generate and process invoices, streamline approvals, send and receive payments, synchronizing data with their accounting system and manage their cash.”