Billionaire Daniel Sundheim is Buying These 5 Tech Stocks

In this article, we will be discussing the 5 tech stocks billionaire Daniel Sundheim is buying. If you want to see our detailed analysis of Sundheim’s hedge fund returns, investment philosophy, and history, go directly to Billionaire Daniel Sundheim is Buying These 10 Tech Stocks.

5. StoneCo Ltd. (NASDAQ:STNE)

Sundheim’s Stake Value: $129.7 million

Percentage of Daniel Sundheim’s 13F Portfolio: 0.84%

Number of Hedge Fund Holders: 44

StoneCo Ltd (NASDAQ:STNE) operates as a provider of financial technology, based in the Cayman Islands. The company provides a platform for e-commerce, across in-store, online and mobile channels. Ranked fifth on the list of the 10 tech stocks billionaire Daniel  Sundheim is buying, StoneCo Ltd. (NASDAQ:STNE) has a market capitalization of $10.39 billion.

On June 23, investment advisory New Street initiated coverage of StoneCo Ltd. (NASDAQ:STNE) stock with a Neutral rating and a price target of $82.

Based on the second quarter data, Daniel Sundheim’s D1 Capital Partners held over 1.93 million shares of StoneCo Ltd. (NASDAQ:STNE), amounting to more than $129.7 million in worth, representing 0.84% of the fund’s investment portfolio. At the end of the second quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $2.7 billion in StoneCo Ltd. (NASDAQ: STNE), up from 39 in the previous quarter worth $2.1 billion.

Out of the hedge funds being tracked by Insider Monkey, Warren Buffett’s Berkshire Hathaway is among the leading shareholders of StoneCo Ltd. (NASDAQ:STNE), with over 10.6 million shares worth roughly $717.2 million.

In its Q2 2021 investor letter, JDP Capital Management, an asset management firm, commented on the future prospects of StoneCo Ltd. (NASDAQ:STNE). Here is what the fund said:

“StoneCo (NYSE: STNE) has been in our portfolio since early 2019 and has appreciated 225% since. In the first half of 2021 the stock was down nearly 20% and was a drag on the fund’s performance.

Stone is a leading fintec company in Brazil that provides back-office software, loans and other financial services to small and medium sized businesses (SMBs). We have discussed Stone in past letters and the company’s “ladder up” from a card processor to a supplier of enterprise software used to sell financial products on top of such as working capital loans…” (Click here to see the full text)