5 Tech Stocks Chinese Billionaire Chen Tianqiao Loves

4. Visa Inc. (NYSE:V)

Tianqiao’s Stake Value: $38.5 million

Percentage of Chen Tianqiao’s 13F Portfolio: 3.14%

Number of Hedge Fund Holders: 162

Visa Inc. (NYSE:V) is a California-based multinational financial services company that enables electronic funds transfers throughout the world. Ranked fourth on our list of the 10 tech stocks Chinese billionaire Chen Tianqiao loves, Visa Inc. (NYSE:V) has a market capitalization of $473.75 billion.

Chen Tianqiao’s Shanda Asset Management currently owns 165,000 shares of Visa Inc. (NYSE:V), amounting to over $38.5 million in worth, accounting for 3.14% of the fund’s portfolio value. At the end of the second quarter of 2021, 162 hedge funds in the database of Insider Monkey held stakes worth $27.6 billion in Visa Inc. (NYSE:V), down from 164 in the previous quarter with stakes worth $26.5 billion.

The company issued its quarterly earnings report for the second quarter of 2021 in March, with earnings per share at $1.38, beating forecast estimates by $0.11. The company also reported a revenue of $5.73 billion, surpassing predicted revenues by $175.03 million.

In its Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:

“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa.”