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10 Tech Stocks to Buy According to Billionaire Stanley Druckenmiller

·13 分鐘文章

In this article, we discuss the top 10 tech stocks to buy according to billionaire Stanley Druckenmiller. If you want to skip our detailed analysis of these stocks, go directly to 5 Tech Stocks to Buy According to Billionaire Stanley Druckenmiller.

Stanley Druckenmiller is a billionaire hedge fund manager, investor, and philanthropist. He was the president and chairman of Duquesne Capital from its inception in 1981 till 2010, when Druckenmiller closed the fund. Currently, Druckenmiller manages his investments from the Duquesne Family Office in New York, and his Q3 portfolio is worth over $3 billion as per the 13F filings from September 2021.

After graduating with a Bachelor’s in English and Economics from Bowdoin College, Druckenmiller joined Pittsburgh National Bank in 1977 as a management trainee, and within a year he was appointed as the head of the equity research group at Pittsburgh National Bank. In 1981, Druckenmiller founded Duquesne Capital Management, and in 1986, he was appointed as head of the Dreyfus Fund, in addition to maintaining control of his own hedge fund. Druckenmiller joined George Soros at the Quantum Fund in 1988, where together, they shorted the British pound in 1992 and made over $1 billion in profits. In 2000, Druckenmiller parted ways with Soros and focused entirely on Duquesne Capital Management.

Stanley Druckenmiller retired from his hedge fund, and returned money to investors, since he stated that the fund had gotten quite large, and it was too stressful to manage unfailing returns year on year. He stated that making profits while managing a large sum of money is quite difficult. Druckenmiller now manages a relatively compact portfolio from his New York office.

In Q3 2021, the billionaire’s investments were focused on the information technology, consumer discretionary, healthcare, and communications sectors. The most notable tech stocks from Stanley Druckenmiller’s Q3 portfolio include Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), among others discussed in detail below.

Our Methodology

We used Stanley Druckenmiller’s investment portfolio from the third quarter to select his top 10 tech stocks, ranking each stock according to the billionaire’s stake value in the holding.

We have also mentioned important metrics such as Q3 earnings, analyst ratings, and the hedge fund sentiment around each stock to provide more context on the companies.

Tech Stocks to Buy According to Billionaire Stanley Druckenmiller

10. Palantir Technologies Inc. (NYSE:PLTR)

Stanley Druckenmiller’s Stake Value: $39,256,000

Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.27%

Number of Hedge Fund Holders: 35

Palantir Technologies Inc. (NYSE:PLTR), a Colorado-based software company engaged in big data analytics, is one of Stanley Druckenmiller’s top tech stock picks from the third quarter, with the billionaire holding 1.63 million shares in Palantir Technologies Inc. (NYSE:PLTR), worth $39.2 million, representing 1.27% of his Q3 investments.

Palantir Technologies Inc. (NYSE:PLTR), on November 9, posted its Q3 results. EPS in the quarter came in at $0.04, in line with analysts’ consensus estimates. Revenue for the period totaled $392.15 million, outperforming estimates by $5.86 million.

It was reported on December 2 that Palantir Technologies Inc. (NYSE:PLTR) signed a $43 million contract with the Space Systems Command's Cross-Mission Ground & Communications Enterprise, and will continue to support national security objectives by delivering a data analytics and decision making platform.

On November 16, Credit Suisse analyst Phil Winslow initiated coverage of Palantir Technologies Inc. (NYSE:PLTR) with a Neutral rating and a $25 price target, stating that even though the company had solid operations, its clientele is quite concentrated, which could result in uneven financial performance.

Cathie Wood’s ARK Investment Management purchased 476,000 Palantir Technologies Inc. (NYSE:PLTR) shares on November 29, making her total stake in the company amount to over 37 million shares worth $895.3 million. Overall, 35 hedge funds in the Q3 database of Insider Monkey were bullish on Palantir Technologies Inc. (NYSE:PLTR), with total stakes valued at $1.63 billion.

In addition to Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Palantir Technologies Inc. (NYSE:PLTR) is a notable tech stock in Stanley Druckenmiller’s Q3 portfolio.

9. Carvana Co. (NYSE:CVNA)

Stanley Druckenmiller’s Stake Value: $41,382,000

Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.34%

Number of Hedge Fund Holders: 58

Carvana Co. (NYSE:CVNA) is one of the fastest growing used car retailers in the US, operating via an online platform. Stanley Druckenmiller, as of Q3 2021, owns 137,237 shares of Carvana Co. (NYSE:CVNA), worth $41.3 million, representing 1.34% of his total 13F securities.

At the end of the third quarter of 2021, 58 hedge funds in the database of Insider Monkey were long Carvana Co. (NYSE:CVNA), with a total stake value of $8.3 billion. This is compared to 63 funds reporting stakes worth $8.9 billion in the company in the previous quarter. Chase Coleman’s Tiger Global Management is the leading Carvana Co. (NYSE:CVNA) stakeholder as of September this year, with 6.14 million shares worth $1.85 billion.

Carvana Co. (NYSE:CVNA), on November 4, posted its Q3 earnings, with EPS for the quarter being -$0.38, missing estimates by -$0.09. The quarterly revenue amounted to $3.48 billion, up 125.45% year-over-year, beating estimates by $219.76 million.

Needham analyst Chris Pierce lowered the price target on Carvana Co. (NYSE:CVNA) on November 6 to $378 from $421 but kept a Buy rating on the shares after the Q3 earnings miss. The analyst sees gains in Carvana Co. (NYSE:CVNA) shares in the future, and remains bullish on the stock, stating that current price levels are an attractive buying point.

Here is what Steel City Capital has to say about Carvana Co. (NYSE:CVNA) in their Q1 2021 investor letter:

“Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.

The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96…” (Click here to see the full text)

8. Intuit Inc. (NASDAQ:INTU)

Stanley Druckenmiller’s Stake Value: $47,018,000

Percentage of Stanley Druckenmiller’s 13F Portfolio: 1.52%

Number of Hedge Fund Holders: 64

A company offering financial software via a global technology platform, some of Intuit Inc. (NASDAQ:INTU)’s products include TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. Stanley Druckenmiller holds 87,149 Intuit Inc. (NASDAQ:INTU) shares, worth over $47 million, representing 1.52% of his total investments as of Q3 2021.

On November 18, Intuit Inc. (NASDAQ:INTU) reported its Q3 earnings, with an EPS of $1.53, beating estimates by $0.56. Revenue for the quarter totaled $2.01 billion, up 51.70% from the prior-year quarter, exceeding estimates by $193.42 million.

Oppenheimer analyst Scott Schneeberger, on November 19, raised the price target on Intuit Inc. (NASDAQ:INTU) to $696 from $584 and kept an Outperform rating on the shares.

At the end of September, 64 hedge funds tracked by Insider Monkey reported owning stakes in Intuit Inc. (NASDAQ:INTU), worth $6.15 billion. This is comparable to 66 funds being bullish on Intuit Inc. (NASDAQ:INTU) in the preceding quarter, with total stakes amounting to $5.38 billion.

Terry Smith’s Fundsmith LLP is the largest Intuit Inc. (NASDAQ:INTU) stakeholder from the third quarter, holding 4.58 million shares valued at $2.47 billion.

Here is what Cooper Investors has to say about Intuit Inc. (NASDAQ:INTU) in its Q3 2021 investor letter:

“The other meaningful deal during the quarter was Intuit’s acquisition of Mailchimp for $12bn. Intuit has reinvented itself over the last decade and thrived with a leadership position in QuickBooks Online, the financial accounting software for small businesses (effectively the ‘Xero of the US’). We originally invested in Intuit in February 2020, excited by the QuickBooks prospects.

Management has executed exceptionally well on the opportunity set which has seen the shares double since our initial purchase. However, the company has now conducted two meaningful deals in Mailchimp and Credit Karma worth a combined US$20bn over the last 12 months. The investment proposition has shifted from a focus on QuickBooks to now being a financial and small business software conglomerate. We continue to very much admire the company, but with Intuit now trading on 50x forward earnings we no longer see such attractive latency on offer, nor the rewards for the level of execution risk and thus we have exited the position.”

7. Airbnb, Inc. (NASDAQ:ABNB)

Stanley Druckenmiller’s Stake Value: $84,102,000

Percentage of Stanley Druckenmiller’s 13F Portfolio: 2.73%

Number of Hedge Fund Holders: 58

Airbnb, Inc. (NASDAQ:ABNB) is a California-based company that offers an online marketplace for renting hotels, lodgings, and vacation resorts, providing a dedicated website and mobile app for its customers. Airbnb, Inc. (NASDAQ:ABNB) is a significant contributor to the hospitality and tourism industry, and challenges the traditional hotel industry.

Airbnb, Inc. (NASDAQ:ABNB) stock represents 2.73% of Stanley Druckenmiller’s Q3 investments, with the billionaire holding an $84.1 million position in the company as of September this year.

Airbnb, Inc. (NASDAQ:ABNB), on November 4, posted its Q3 earnings. EPS in the period amounted to $1.23, topping estimates by $0.40. The $2.24 billion revenue also outperformed revenue estimates by $181.63 million.

UBS analyst Lloyd Walmsley on December 2 initiated coverage of Airbnb, Inc. (NASDAQ:ABNB) with a Neutral rating and a $176 price target, as part of a broader research note on online travel.

Jim Simons’ Renaissance Technologies is one of the leading Airbnb, Inc. (NASDAQ:ABNB) stakeholders from Q3 2021, with 2.77 million shares worth $465.3 million. Overall, 58 funds in the database of Insider Monkey were bullish on Airbnb, Inc. (NASDAQ:ABNB) at the end of September, with total stakes amounting to $2.71 billion.

Like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Airbnb, Inc. (NASDAQ:ABNB) is gaining the attention of elite hedge funds.

Here is what Polen Capital has to say about Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter:

“We believe Airbnb has substantial competitive advantages in a large, fast-growing, and global market. Airbnb acts as a “System of Trust” in the private rental accommodations market, removing a considerable amount of friction so hosts can trust unknown guests and guests can trust unknown hosts/properties.

We believe Airbnb has an attractive growth runway given its unique inventory, powerful platform, and system enhancements that further reduce user friction.

We see Airbnb as well-positioned to benefit from secular growth in travel, the increasingly mainstream nature of private rentals, and as hybrid work/travel can lead to more frequent and longer stays. Unlike traditional online travel agencies like Booking.com and Expedia, Airbnb’s user traffic comes almost entirely directly, which speaks to the brand’s strength. This also means that Airbnb does not need to pay Google or other meta-search engines nearly as much money for generating booking leads, which is a favorable structural business model advantage in our view. We expect the company’s bookings and revenue to compound at a high-teens rate or better over the next five years and margins to expand by thousands of basis points as it scales its fixed costs base, leading to 40%+ earnings per share growth over that period.”

6. Booking Holdings Inc. (NASDAQ:BKNG)

Stanley Druckenmiller’s Stake Value: $103,332,000

Percentage of Stanley Druckenmiller’s 13F Portfolio: 3.35%

Number of Hedge Fund Holders: 96

Stanley Druckenmiller increased his stake in Booking Holdings Inc. (NASDAQ:BKNG) by 46% in the third quarter, holding 43,529 shares worth $103.3 million, accounting for 3.35% of his total Q3 investments. Booking Holdings Inc. (NASDAQ:BKNG) is a travel technology company operating multiple travel metasearch engines and travel fare aggregators, including Booking.com, Kayak.com, and Cheapflights, among others.

Booking Holdings Inc. (NASDAQ:BKNG) announced its Q3 results on November 3. EPS in the period amounted to $37.70, beating estimates by $4.67. The quarterly revenue totaled $4.68 billion, gaining 77.12% year-over-year, exceeding estimates by $385.44 million.

As part of his research on the online travel sector, UBS analyst Lloyd Walmsley initiated coverage of Booking Holdings Inc. (NASDAQ:BKNG) with a Buy rating and a $2,838 price target on December 2.

Of the 96 hedge funds that were bullish on Booking Holdings Inc. (NASDAQ:BKNG) in Q3 2021, Harris Associates is the leading Booking Holdings Inc. (NASDAQ:BKNG) stakeholder, with 668.053 shares worth $1.58 billion.

In addition to Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:FB), Booking Holdings Inc. (NASDAQ:BKNG) is a notable tech stock in Stanley Druckenmiller’s Q3 portfolio.

Here is what L1 Capital has to say about Booking Holdings Inc. (NASDAQ:BKNG) in its Q3 2021 investor letter:

“We reinvested the proceeds from our successful investment in Thermo Fisher in Booking Holdings (Booking). Booking was an investment in the Fund at Inception and was featured in our inaugural June 2019 Quarterly Report. The company owns the world’s largest online travel agent (OTA), Booking.com. To say the past 2.5 years has been volatile for Booking is a major understatement. Booking’s management has had to address the COVID-19-driven collapse in demand for travel accommodation, as well as to manage volatile demand as the world gradually recovers, interrupted by second and third waves of COVID-19 as variants arise.

Throughout these volatile market conditions, Booking’s management has executed against a consistent strategy, investing in its platform and network of accommodation providers, and expanded its associated services while improving efficiencies. We believe Booking will come out of the COVID-19 environment a stronger business, with less competition and consumers more predisposed to booking their travel accommodation online. Travel is recovering strongly as vaccination rates increase and COVID-19 related restrictions are lifted, and we expect Booking’s earnings and cash flow to also recover strongly over the coming years.”

Click to continue reading and see 5 Tech Stocks to Buy According to Billionaire Stanley Druckenmiller. Suggested articles:

Disclosure: None. 10 Tech Stocks to Buy According to Billionaire Stanley Druckenmiller is originally published on Insider Monkey.

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