In this article we are going to take a look at the top 5 car company stocks to invest in, based on Insider Monkey’s latest article. While auto sales saw a great decrease in 2020, car company stocks were fairly popular. According to Insider Monkey’s investigation, car industry will rally in 2021, as consumer spendings have started to raise. However the sector is about to change with targeting the more innovative electric vehicle (EV) market. We can see several billionaire hedge fund managers prefer to purchase stocks in these companies.
And now without a further ado, let’ see what Insider Monkey has investigated for you. Ford Motor Company stands on the fifth spot on the list with 41 hedge funds and $1.6 billion of hedge fund holdings value. Ford’s CEO John Lawler announced to target adjusted pretax profits to be between $8 billion-$9 billion, and adjusted free cash flow to be in between $3.5 billion-$4.5 billion, despite the shortfall of semiconductor chips. The company has a market of $47.1 billion, and its returns are around 35.72%. Arrowstreet Capital is the largest stake holder with owning 49.6 million shares, worth $436 million. Ford is followed by Baidu, Inc. on the fourth spot with with 51 hedge funds and $4.6 billion of hedge fund holdings value. Baidu is a China-headquartered technology company that operates in artificial intelligence internet-related services and. As of 2021 the company announced they are about to launch an intelligent electric vehicle company, and to make a partnership with Geely Automobile that purchased Volvo earlier. The largest stakeholder in the company Jim Simon’s Renaissance. Tesla, Inc is on the second spot with 68 hedge funds and $12.3 billion of hedge fund holdings value. Tesla is among Cathie Wood’s favorite stock picks, as her ARK Investment purchased around 11,893 shares in the company for ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), 177,214 shares for the ARK Innovation Fund and 51,441 shares for the ARK Next Generation Internet ETF (NYSEARCA:ARKW). In her opinions Tesla’s triumph will continue and remain the leader in the EV market. For more information about the top car company stocks to invest in, please click and see the entire article.