5 Momentum Stocks Billionaires Are Loading Up On

In this piece, we will take a look at the five momentum stocks billionaires are loading up on. For more stocks, head on over to 10 Momentum Stocks Billionaires Are Loading Up On.

5. HashiCorp, Inc. (NASDAQ:HCP)

Number of Billionaire Investors in Q1 2023: 9

HashiCorp, Inc. (NASDAQ:HCP) is a software technology firm that was set up in 2012. The firm is headquartered in San Francisco, California. Its products allow network automation, running support applications, and managing application lifecycles along with other functions.

HashiCorp, Inc. (NASDAQ:HCP)’s shares slid in June 2023 after the upper end of its revenue guidance for the current year was below the lower end of previous estimates. However, this creates a “solid entry point” according to analysts from Needham. 23 of the 943 hedge funds part of Insider Monkey’s database had bought the firm’s shares in Q1 2023, with Israel Englander’s Millennium Management being the largest investor.