Top Five High Growth Companies Hedge Funds Are Buying

3. Shopify Inc (NYSE:SHOP)

Shopify Inc (NYSE:SHOP) also saw an increase of bullish investors during the last three months of 2020, as 90 funds tracked by Insider Monkey disclosed owning $8.72 billion worth of shares, versus 81 funds and $7.52 billion at the end of September.

Shopify has been growing in the last several years as it profited from the surge in eCommerce that attracted many small businesses and saw another boost during the pandemic as more businesses had to expand their online presence. This year, the company also expects to increase its revenue, although it expects a lower rate than in 2020 due to vaccination rollout that will shift more spending towards offline shopping. However, Shopify Inc (NYSE:SHOP) also faces a looming threat from Amazon.com, Inc. (NASDAQ:AMZN), which has recently acquired Selz, another eCommerce platform that allows building online stores.