5 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital

Page 1 of 5

In this article, we discuss 5 tech stocks to buy now according to Robert Pitts’ Steadfast Capital. If you want to read our detailed analysis of Pitts’ history and hedge fund performance, go directly to 10 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital.

5. Block, Inc. (NYSE:SQ)

Steadfast Capital’s Stake Value: $121,472,000
Percentage of Steadfast Capital’s 13F Portfolio: 2.02%
Number of Hedge Fund Holders: 96

Block, Inc. (NYSE:SQ), previously Square, Inc., is a San Francisco, California-based financial services and digital payments startup. Block also owns the following businesses: Cash App, Afterpay, Weebly, and TIDAL. Block, Inc. (NYSE:SQ) and Blockstream began construction on a solar- and battery-powered bitcoin (BTC-USD) mining plant in Texas on April 8, using Tesla, Inc. (NASDAQ:TSLA) solar and storage technologies.

Overall, 96 hedge funds in Insider Monkey’s database were bullish on Block, Inc. (NYSE:SQ) in Q3, down from 98 in the previous quarter. These stakes are valued at over $5.96 billion.

RiverPark Funds, in its Q1 2021 investor letter, mentioned Block, Inc. (NYSE:SQ). Here is what the fund said:

“We established a position in leading Financial Technology provider Block, Inc. (NYSE:SQ) during the quarter. Through one integrated system, Block, Inc. (NYSE:SQ) is a hybrid of two businesses: its Seller Business (charging small and medium-sized businesses about 3% for transaction payment processing, plus other services such as instant funds access, and software for everything from customer engagement to payroll), and its Cash App (originally for person-to-person cash transfers and now a growing digital financial services provider for consumers). …” (Click here to see the full text)



Page 1 of 5