Growth Stock Portfolio: 5 Stock Picks By Hedge Funds

2. Expedia Group, Inc. (NASDAQ:EXPE)

Number of Hedge Fund Holders in Q2: 87  

Number of Hedge Fund Holders in Q1: 86     

Expedia Group, Inc. (NASDAQ:EXPE) is ranked second on our list of 10 growth stock picks by hedge funds. The firm owns and operates an online travel platform. It is headquartered in Washington. 

On September 13, investment advisory Goldman Sachs initiated coverage of Expedia Group, Inc. (NASDAQ: EXPE) stock with a Buy rating and a price target of $185, noting that the internet sector had ample opportunity for secular revenue growth in the coming months. 

At the end of the second quarter of 2021, 87 hedge funds in the database of Insider Monkey held stakes worth $5.9 billion in Expedia Group, Inc. (NASDAQ:EXPE), up from 86 in the previous quarter worth $6.1 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Expedia Group, Inc. (NASDAQ:EXPE) was one of them. Here is what the fund said:

“Several of our better performers in the first quarter were purchased while their business models were under stress from COVID restrictions or the macro environment the pandemic created. What gave us confidence in purchasing Expedia were the actions the company took to extend out their balance sheets until travel resumed. It should benefit as a broader vaccination rollout prompts cruise lines to resume operations and consumers to start traveling again and are positioned to deliver better margins and gain pricing power as the economy normalizes due to the cost controls implemented during the downturn.”