With consumers using their stimulus checks to spend more, a growing economy, and the vaccination rollout strongly underway, how did TipRanks users invest in April 2021?
We looked at the activities of close to 400,000 investors with a TipRanks Smart Portfolio to see which were the most bought and sold stocks of the month.
The Most Bought Stocks
The top 10 most bought stocks included a lot of the same names as March 2021. There were two newcomers to the list. Most notable was Coinbase, the first publicly traded crypto exchange which held its IPO on April 14th.
Coinbase is still proving popular with TipRanks investors, with a 10.1% increase in the number of portfolios holding the stock in the last 7 days. Out of 8 recent Wall Street analysts with ratings for COIN, 5 are Buy and 3 are Hold. The average 12-month price target of $435.50 indicates over 55% upside.
The other new name on the list is CHPT, a stock in the electric vehicle sector that saw a 40% drop in the opening months of the year.
The following are the top 10 most bought stocks by TipRanks investors in April and how they compare to March
1 Apple (AAPL), no change
2 Nio (NIO), no change
3 Tesla (TSLA), no change
4 Palantir Technologies (PLTR), no change
5 Microsoft (MSFT), previously 7th, replaced Churchill Capital IV
6 Coinbase (COIN), replaced Facebook
7 Facebook (FB), previously 6th, replaced Microsoft
8 Amazon (AMZN), no change
9 Chargepoint Holdings (CHPT), previously 16th, replaced Google
10 Google (GOOGL) (previously 9th, replaced Plug Power)
The Most Sold Stocks
Which stocks did TipRanks investors sell in April? Again, the top four names were identical to March. They also correspond to the most bought stocks of the month except that Tesla and Nio switch places on this list.
Johnson & Johnson makes an appearance. On April 13th it was announced that the company was temporarily stopping the rollout of its Covid vaccine after reports of rare blood clotting. It was also the twenty-fourth most bought stock of the month with 2.5% of TipRanks investors adding it to their portfolio. Wall Street analysts are Bullish, out of 5 recent ratings, 4 are Buy and 1 is Hold. The JNJ stock has an average price target of $190, showing close to 13.5% upside potential.
These were the top 10 most sold stocks by TipRanks investors in April 2021 and how they compared to March.
1 Apple (AAPL), no change
2 Tesla (TSLA), no change
3 Nio (NIO), no change
4 Palantir Technologies (PLTR), no change
5 Amazon (AMZN), previously 7th place, replaced AMC
6 Johnson & Johnson (JNJ), previously 38th place, replaced Microsoft
7 Microsoft (MSFT), previously 6th place, replaced Amazon
8 Alibaba (BABA), no change
9 Facebook (FB), previously 11th place, replaced Churchill Capital IV
10 Nvidia (NVDA), previously 18th place, replaced Facebook
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