Top 5 Stock Picks of Billionaire Nicholas Pritzker

4. Tesla, Inc. (NASDAQ:TSLA)

Tao Capital Stake Value: $44,591,000
Percentage of Tao Capital’s 13F Portfolio: 11.88%
Number of Hedge Fund Holders: 60

Tesla, Inc. (NASDAQ:TSLA) is an electric car and sustainable energy corporation headquartered in Austin, Texas. In the fourth quarter of 2019, Tao Capital started building its stake in Tesla, Inc. (NASDAQ:TSLA). The hedge fund had a $44.59 million stake in the company in the third quarter of 2021.

New Street Research analyst Pierre Ferragu boosted his price objective on Tesla, Inc. (NASDAQ:TSLA) to $1,580 from $1,298 on December 8 and maintained a “Buy” recommendation on the stock. Ferragu estimates 280,000-285,000 units to be delivered in Q4, up 40,000 units from the previous quarter and compared to a consensus prediction of 266,000.

Overall, 60 hedge funds monitored by Insider Monkey were bullish on Tesla, Inc. (NASDAQ:TSLA) in the third quarter. The stakes of these funds are valued at $10.65 billion.

In its third-quarter 2021 investor letter, Baron Funds addressed Tesla, Inc. (NASDAQ:TSLA). Here is what the fund said:

“Tesla, Inc. – CEO Elon Musk co-founded Tesla with the auspicious goal of addressing and disrupting the entire automobile market, in which about 100 million new cars are sold each year, to bring sustainable and safer automotive transportation to the entire world, with a full line of vehicles of various styles and price points and innovations like Autopilot autonomous driving. Tesla has had more “acts” and TAM expanders over the last decade than most companies have over their lifetimes. Tesla first hit the market with the Roadster, an ultra-high-end sports car. It further attacked the high end of the auto market with the Model S sedan and the Model X SUV. But Tesla vastly expanded its TAM, and forever disrupted the automotive mass market, with its Model 3 and Model Y vehicles. Model 3 is now the best-selling car of its class globally, with Model Y set to surpass it next year. Future vehicles aimed at addressing nearly the entire 100 million new passenger car market include the Cybertruck and a $25,000 model. Tesla is now well positioned to achieve CEO Elon Musk’s public goal of selling 20 million cars by growing vehicles delivered at a 50% annual rate. Moreover, Tesla has multiple acts or new TAMs that have yet to hit their stride with Autopilot, for Tesla vehicles and third-party cars; solar and battery storage; ride share; humanoid robots; and more.”