5 Technology Stocks to Sell Now According to Cathie Wood

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 158

Percentage Decrease in Stake in Q4: 36%  

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company. Alphabet Inc. (NASDAQ:GOOG) has been in the ARK portfolio since the second quarter of 2020. At the end of the fourth quarter of 2021, the fund owned 17,249 shares of Alphabet Inc. (NASDAQ:GOOG) worth close to $50 million, representing 0.15% of the portfolio. 

Alphabet Inc. (NASDAQ:GOOG) is a top tech stock in the finance world. Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG), with 2.9 million shares worth more than $8.5 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”