Stanley Druckenmiller is Loading Up on These 5 Stocks

4. Smartsheet Inc. (NYSE: SMAR)

Number of Hedge Fund Holders: 49  

Smartsheet Inc. (NYSE: SMAR) is a Washington-based firm that markets a cloud work execution platform. It is ranked fourth on our list of 15 stocks Stanley Druckenmiller is loading up on. The fund last owned a stake in the company in the second quarter of 2019. Securities filings reveal that Duquesne Capital owned 495,085 shares in Smartsheet Inc. (NYSE: SMAR) at the end of June 2021 worth $35.8 million, representing 1.02% of the portfolio. 

On August 19, investment advisory Jefferies upgraded Smartsheet Inc. (NYSE: SMAR) stock to Buy from Hold and raised the price target to $85 from $65, noting that the firm operated in the low cost, high value pick work collaboration solution space. 

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.48 billion in Smartsheet Inc. (NYSE: SMAR), up from 39 in the preceding quarter worth $1.49 billion.