Which stocks were grabbing the attention of TipRanks investors in October, a month that ended at record highs?
To find out, we looked at the data from one of our most popular tools, Smart Portfolio.
Over half a million investors use Smart Portfolio to get a data-driven portfolio analysis and expert insights into their holdings. With so many people using the tool, we can extract interesting insights into investors, including their monthly buy and sell transactions.
Every month we share the top ten most bought and sold stocks by TipRanks investors.
Most Bought Stocks
There were a lot of familiar names in the list with only two changes from September.
Paypal made its debut since we started compiling the list in March. Meanwhile, Google returned to the top 10 for the first time since May.
This knocked both Lucid Group and SoFi Technologies off the list, but only just. Lucid dropped to 11th place and SoFi dropped to 13th. Meanwhile, following its IPO in August and a brief appearance in the top 10 that month, Robinhood continues to tumble in popularity, down to 55th place.
Taking a closer look at Paypal, it’s not just investors who are feeling optimistic. Analysts have a Strong Buy rating consensus, and their average price target indicates over 41% upside. The stock has a Smart Score of 9 which represents Outperform, according to our data-driven stock score.
1 Apple (AAPL), no change
2 Tesla (TSLA), previously 3rd, replaced Microsoft
3 Facebook (FB), previously 6th, replaced Tesla
4 Nio (NIO), no change
5 Microsoft (MSFT), previously 2nd, replaced Lucid Group
6 Alibaba (BABA), previously 7th, replaced Facebook
7 Amazon (AMZN), previously 9th, replaced Alibaba
8 Nvidia (NVDA), no change
9 Google (GOOGL), previously 12th, replaced Amazon
10 PayPal (PYPL), previously 17th, replaced Sofi Technologies
Most Sold Stocks
Again, most of the names on the list are identical to those on September’s list, Facebook is back after one month off the list, replacing AMC which was the 19th most sold stock of the month. Eight out of the names appear on the most bought list, with Lucid Group and Palantir Technologies being the exceptions.
Zoning in on Palantir, a number of the company’s corporate insiders have been selling shares in recent months, in informative sell transactions, meaning these trades reflect sentiment. Meanwhile, none of the company’s insiders have reported an informative buy transaction to the SEC in the past year. With negative sentiment from individual investors, insiders selling shares, and a Moderate Sell consensus from Wall Street analysts, the stock has a neutral Smart Score of 5.
1 Apple (APPL), no change
2 Tesla (TSLA) previously 3rd, replaced Palantir Technologies
3 Facebook (FB), previously 12th, replaced Tesla
4 Nio (NIO), no change
5 Lucid Group (LCID), previously 9th, replaced Amazon
6 Amazon (AMZN), previously 5th, replaced Alibaba
7 Microsoft (MSFT), previously 8th, replaced Nvidia
8 Alibaba (BABA), previously 6th, replaced Microsoft
9 Nvidia (NVDA), previously 7th, replaced Lucid Group
10 Palantir Technologies (PLTR), previously 2nd, replaced AMC
We’ll be back soon with November’s most traded stocks. In the meantime, if you want to check out your portfolio performance, open a Smart Portfolio.
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.