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Hedge Funds are buying these stocks
27th August
Hello!
This is Seven Lakes Research, the #1 resource for Insider Stock Trading.
We provide updates when politicians, celebrities, top managers, hedge funds and stock gurus make trades
We screened the Hedge Funds market today, and found:
Citadel Advisors bought DraftKings Inc (DKNG)
Vanguard Group bought Shopify Inc (SHOP)
BlackRock bought Zoom Video Communications Inc (ZM)
and much more
More information in the sections below. Thanks for reading!
Seven Lakes Research team
TOP 3 STOCKS BOUGHT BY HEDGE FUNDS THIS WEEK
Stock #1
Citadel new position: DraftKings Inc ($DKNG)
DraftKings Inc is a leading player in the online sports betting and gaming market, benefiting from rapid industry growth and expanding market share.
Ticker: DKNG | Price: $35 | Market Cap: $17bn
Analysts recommendation: Buy
Sector: 🎮 Entertainment/Gaming
What happened?
Citadel invested in DraftKings Inc (DKNG) due to its 88% year-over-year revenue growth, reaching $2.2 billion revenue in 2023, driven by a 43% increase in active users. The company’s market share in U.S. online sports betting grew to 32%, solidifying its leadership position. DraftKings' gross margin improved to 49%, and the company projects continued strong growth with expected revenues of $3.1 billion in 2024. Citadel’s investment reflects confidence in DraftKings' robust expansion strategy and profitability outlook.
How do you feel about this stock today? |
Stock #2
Vanguard Group new position: Shopify ($SHOP)
Shopify Inc is a major player in the e-commerce sector, known for its robust platform that empowers businesses of all sizes to operate online.
Ticker: SHOP | Price: $75 | Market Cap: $96bn
Analysts recommendation: Buy
Sector: 🛒 Technology/E-Commerce
What happened?
Vanguard Group invested in Shopify Inc (SHOP) due to its impressive 35% year-over-year revenue growth, reaching $6.5 billion in 2023. Shopify's Gross Merchandise Volume (GMV) surged by 28% to $197 billion, reflecting its growing influence in e-commerce. The company reported a 22% increase in subscription solutions revenue, driven by an expanding merchant base. With a free cash flow of $500 million, Shopify is well-positioned for future growth. Vanguard's investment underscores its confidence in Shopify’s continued dominance in the e-commerce space.
How do you feel about this stock today? |
Stock #3
BlackRock new position: Zoom Video Communications Inc ($ZM)
Zoom Video Communications Inc is a leader in the video conferencing industry, renowned for its user-friendly platform and widespread adoption, especially post-pandemic.
Ticker: ZM | Price: $61 | Market Cap: $22bn
Analysts recommendation: Buy
Sector: 📹 Technology/Communication
What happened?
BlackRock invested in Zoom Video Communications Inc (ZM) following its 12% year-over-year revenue increase, totaling $4.3 billion in 2023. Zoom's enterprise customer base expanded by 25%, contributing to its growing market share in the video conferencing sector. The company’s net income rose by 15% to $780 million, supported by a 48% operating margin. Zoom’s strategic expansion into hybrid work solutions and AI-driven features positions it for sustained growth. BlackRock's investment highlights confidence in Zoom's ability to innovate and maintain market leadership.
How do you feel about this stock today? |
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LATEST INSIDER TRADING NEWS AND INTERESTING LINKS
Michael Feinsod, CEO of Bespoke Extracts, Inc.
Transaction: Purchased 3,000 shares at $0.07 per share.
Kishore Seendripu, Chairman, President, and CEO of Maxlinear, Inc.
Transaction: Purchased 108,303 shares at $12.94 per share.
Steven T. Mnuchin, Board Member at Lions Gate Entertainment Corp.
Transaction: Purchased 57,035 shares at $8.50 per share.
Murray Stahl, President and CEO of Renn Fund, Inc.
Transaction: Purchased 1,352 shares at $1.78 per share.
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