5 Technology Stocks Hedge Funds Are Talking About

In this article, we will discuss the 5 technology stocks hedge funds are talking about. If you want our detailed analysis of the technology sector, you can go directly to 10 Technology Stocks Hedge Funds Are Talking About. 

5. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 153

ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Growth Strategy underperformed its Russell 1000 Growth Index benchmark during the third quarter. On an absolute basis, the Strategy had gains across four of the eight sectors in which it was invested (out of 11 sectors total). The leading contributors to performance were in the IT and health care sectors, while the consumer discretionary and industrials sectors were detractors. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Large Cap Growth Strategy, in its Q3 2021 investor letter, mentioned Uber Technologies, Inc. (NYSE: UBER) and discussed its stance on the firm.

Here is what ClearBridge Large Cap Growth Strategy has to say about Uber Technologies, Inc.  in its Q3 2021 investor letter:

“We have also been looking for multiyear secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber will also be a key player in the transition from internal combustion engines to EVs.”

Based on our calculations, Uber Technologies, Inc. (NYSE: UBER) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. UBER was in 143 hedge fund portfolios at the end of the third quarter of 2021, compared to 135 funds in the previous quarter.