The recent 13F filing from BlackRock (NYSE:BLK) revealed that the asset management and investment company turned bullish on Atlassian (NASDAQ:TEAM) and Two Harbors (NYSE:TWO). It also raised its holdings in Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), and Amazon (NASDAQ:AMZN).
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Using TipRanks’ database, let’s examine what’s in store for these stocks in the future.
What’s the Prediction for TEAM and TWO?
Using TipRanks’ database, we found that shares of TEAM and TWO fail to appeal at their current levels. TipRanks’ Stock Comparison tool shows that the analyst community is cautiously optimistic about these stocks. Further, their average price target on both these stocks indicates that the upside remains capped near the current levels.
While analysts are cautiously optimistic about these stocks, hedge funds and insiders are selling Atlassian. Hedge funds sold 8.2M shares of Atlassian last quarter. Meanwhile, insiders sold TEAM stock worth $128.5M. Overall, it has an Underperform Smart Score of one. As for Two Harbors, the stock sports a Neural Smart Score of seven.
Which of these Big Tech Stocks Is Most Attractive?
BlackRock capitalized on the low share prices of tech giants and increased its holdings in Q4. Shares of big tech companies recovered a bit in 2023 and are trading in the green. Meanwhile, on TipRanks, AMZN, AAPL, GOOGL, and MSFT carry a Strong Buy consensus rating.
Further, shares of these companies sport an Outperform Smart Score on TipRanks. However, both AMZN and GOOGL stocks look lucrative at current levels based on their upside potential over the next 12 months.
Analysts’ 12-month average price target of $137.05 on AMZN stock reflects an upside potential of 37.46% from current levels. Meanwhile, GOOGL’s stock offers an upside potential of 36.91% based on analysts’ average price target of $129.63.
Bottom Line
The latest 13F filing reveals that BlackRock continues to be bullish on big tech stocks. Notably, shares of big tech giants could get a significant lift as the global macro environment shows improvement. Apple continues to be BLK’s biggest holding, followed by Microsoft and Amazon. It also increased its stake in penny stock Mullen Automotive (NASDAQ:MULN) in Q4.
Retail investors should note that following the trades of top institutions and managers could prove profitable. Also, investors can leverage TipRanks’ Experts Center tool to pick stocks with the potential to beat the market.
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