Which stocks were most popular with TipRanks investors last month? Every month we explore the most bought and sold stocks of over 470,000 investors with a TipRanks Smart Portfolio to spot new trends.
Most Bought Stocks
August saw a lot of familiar names and one significant change. Salesforce’s presence in second place in July was short-lived, it dropped to 40th place in August. There was only one new name on the list, SoFi Technologies. The personal finance company which offers a stock trading platform among its services, snuck up 3 spots to reach number 10.
Not quite making it into the top 10, but certainly worth a mention is Robinhood. The trading platform held its IPO on July 29th and was the 13th most purchased stock of August. It will be interesting to see if it makes the top 10 in September and whether SoFi will remain on the list.
SoFi has 3 recent ratings from Wall Street analysts, two buy and one hold, giving the stock a Moderate Buy consensus. Its average price target of $23.17 represents close to 50% upside. Additionally, the stock has a maximum Smart Score of 10, according to our data-driven stock score.
1 Apple (AAPL), no change
2 Amazon (AMZN), previously 7th, replaced Salesforce
3 Nio (NIO), no change
4 Nvidia (NVDA), no change
5 Tesla (TSLA), no change
6 Microsoft (MSFT), no change
7 Alibaba (BABA), previously 8th, replaced Amazon
8 Facebook (FB), previously 9th, replaced Alibaba
9 Palantir Technologies (PLTR), previously 10th, replaced Facebook
10 SoFi Technologies (SOFI), previously 13th, replaced Palantir Technologies
Most Sold Stocks
There are many similarities between July and August when it comes to the most sold stocks of the month, as well as lots of overlaps between the most bought and most sold stocks.
The only stock that appears on the most sold list that doesn’t appear on the most bought one is AMD. The stock has a Strong Buy analyst rating consensus and a price target of $119.75, representing 12.22% upside. It was also the 12th most bought stock of the month, with sentiment being very positive overall. In fact, overall sentiment for the stock is positive, including bloggers, hedge funds, and news. The stock has a maximum Smart Score of 10.
1 Apple (APPL), previously 2nd, replaced Nio
2 Tesla (TSLA) previously 3rd, replaced Apple
3 Nio (NIO) previously 1st, replaced Tesla
4 Alibaba (BABA) no change
5 Palantir Technologies (PLTR) previously 6th, replaced AMC
6 SoFi Technologies (SOFI) previously 7th, replaced Palantir Technologies
7 Advanced Micro Devices (AMD), previously 10th replaced Sofi Technologies
8 Nvidia (NVDA), no change
9 Amazon (AMZN), no change
10 Microsoft (MSFT) previously 11, replaced Advanced Micro Devices
Disclaimer: The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.