In this article, we discuss the 5 recent additions to the stock portfolio of Jim Cramer. If you want to read our detailed analysis of these stocks, go directly to the Jim Cramer Stock Portfolio: 10 Recent Additions.
5. DICK’S Sporting Goods, Inc. (NYSE:DKS)
Number of Hedge Fund Holders: 36
DICK’S Sporting Goods, Inc. (NYSE:DKS) is another sporting goods retailer that Cramer has recommended as a Buy. The company has recently signed a partnership with Nike, one of the biggest sports brands in the world, to link the shopping experience of customers of both firms. It had also announced in September that it would be hiring 10,000 additional staff in anticipation of a major boom in sales for the holiday season.
On August 26, Wedbush analyst Seth Basham raised the price target on DICK’S Sporting Goods, Inc. (NYSE:DKS) stock to $150 from $125 and maintained an Outperform rating, appreciating the strong earnings of the firm.
Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Atreides Management is a leading shareholder in DICK’S Sporting Goods, Inc. (NYSE:DKS) with 2.8 million shares worth more than $289 million.
4. DoorDash, Inc. (NYSE:DASH)
Number of Hedge Fund Holders: 45
DoorDash, Inc. (NYSE:DASH) is a logistics platform that connects merchants with consumers. The firm recently announced that it had signed an agreement with Dollar General, a variety store firm, to offer on-demand delivery of everyday items at low prices. These deliveries are available at more than 9,000 Dollar General stores and the firm plans to expand them to 1,000 more stores in time for the holiday season.
Cramer gave DoorDash, Inc. (NYSE:DASH) a Buy rating during the Guest Interview segment of his show earlier this month. DoorDash recently announced that it would be purchasing food delivery startup Wolt in a deal worth $8 billion as part of a plan to build a global platform for business.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Coatue Management is a leading shareholder in DoorDash, Inc. (NYSE:DASH) with 9.6 million shares worth more than $1.7 billion.
3. DexCom, Inc. (NASDAQ:DXCM)
Number of Hedge Fund Holders: 49
DexCom, Inc. (NASDAQ:DXCM) is a California-based healthcare equipment firm. The stock recently touched a 52-week high after the firm posted market-beating earnings for the third quarter, smashing analyst expectations on earnings per share and revenue by $0.24 and $33 million respectively. Piper Sandler, Jefferies, Oppenheimer, and Canaccord have raised their price targets on the stock recently to reflect the positive outlook on the firm.
Cramer recommended DexCom, Inc. (NASDAQ:DXCM) as a Buy during the lightning round of his show. In the round, Cramer usually fields questions from callers and gives his verdict on a stock quickly before moving to the next call.
At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.63 billion in DexCom, Inc. (NASDAQ:DXCM), down from 56 in the previous quarter worth $1.67 billion.
In its Q4 2020 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and DexCom, Inc. (NASDAQ:DXCM) was one of them. Here is what the fund said:
“DexCom, a developer and manufacturer of continuous glucose monitors (CGMs) for people with diabetes, saw its share price suffer in the quarter after an announcement from its largest competitor that it had finally developed a CGM that appears to be competitive with Dexcom’s flagship G6 sensor. Until the competitive dynamics are sorted out, we feel as though the firm’s shares could remain range-bound, leading us to exit the position.”
2. Roblox Corporation (NYSE:RBLX)
Number of Hedge Fund Holders: 49
Roblox Corporation (NYSE:RBLX) was given a Buy rating by Cramer during the Guest Interview part of his show. The company, which owns and runs an online entertainment platform, has seen share price climb over 40% in the past few days on the back of strong earnings results and improved guidance. The company has seen bookings and daily users jump in the past few months, leading to a massive increase in revenue.
BTIG analyst Clark Lampen recently initiated coverage of Roblox Corporation (NYSE:RBLX) stock with a Buy rating and a price target of $98, appreciating the strong user growth numbers of the company.
At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in Roblox Corporation (NYSE:RBLX), up from 46 in the previous quarter worth $3.3 billion.
In its Q2 2021 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks and Roblox Corporation (NYSE:RBLX) was one of them. Here is what the fund said:
“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.
Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.
Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”
1. General Electric Company (NYSE:GE)
Number of Hedge Fund Holders: 67
General Electric Company (NYSE:GE) is a diversified industrial company. Cramer recently discussed the stock in detail on his show this week, giving it a Buy rating. The company has recently announced plans to split into three separately traded firms. The three firms would each have a different focus: energy, health, and aviation. The Buy recommendation is a vote of confidence for the move by Cramer.
General Electric Company (NYSE:GE) recently announced that it had obtained a $1.5 billion contract from the US Air Force for propulsion systems. The contract runs till 2031 and includes the development of parts for 29 F110-GE-129 engines for the F-15EX fleet.
At the end of the second quarter of 2021, 67 hedge funds in the database of Insider Monkey held stakes worth $6.08 billion in General Electric Company (NYSE:GE), down from 68 in the previous quarter worth $6.16 billion.
In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and General Electric Company (NYSE:GE) was one of them. Here is what the fund said:
“General Electric is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”
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