Crypto Bull Steve Cohen is Buying These 5 Stocks

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In this article, we discuss the 5 stocks that crypto bull Steve Cohen is buying. If you want to read our detailed analysis of these stocks, go directly to Crypto Bull Steve Cohen is Buying These 10 Stocks.

5. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 162   

Visa Inc. (NYSE:V) is ranked fifth on our list of 10 stocks that crypto bull Steve Cohen is buying. The company markets payments technology services and operates from California. According to the latest data, Point72 Asset Management owned over 1.2 million shares in the company at the end of June 2021 worth $290 million, representing 1.3% of the portfolio. 

On September 3, investment advisory Morgan Stanley maintained an Overweight rating on Visa Inc. (NYSE:V) stock with a price target of $282, underlining that the Visa interchange risk from Amazon was likely to pass. 

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 preceding quarter worth $26.5 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, 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.”

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