This article presents an overview of 5 Cathie Wood Stocks Insiders are Selling. For a detailed overview of such stocks read our article, 10 Cathie Wood Stocks Insiders are Selling.
5. Moderna Inc (NASDAQ:MRNA)
Cathie Wood’s Stake: $129,724,309
Number of Hedge Fund Investors: 39
Moderna Inc (NASDAQ:MRNA) ranks fifth in our list of the stocks in Cathie Wood’s portfolio seeing insider selling. Stephen Hoge, Moderna Inc’s (NASDAQ:MRNA) President, on April 15 sold 15,000 company shares at $105.02 per share. Noubar Afeyan, who has a director status at Moderna Inc (NASDAQ:MRNA), also dumped 8,243 shares of Moderna Inc (NASDAQ:MRNA) at $103.10 per share on April 17. Since then Moderna Inc (NASDAQ:MRNA) shares have gained about 4.31%.
4. Meta Platforms Inc (NASDAQ:META)
Cathie Wood’s Stake: $211,950,861
Number of Hedge Fund Investors: 242
In addition to seeing huge selling activity from Mark Zuckerberg, Meta Platforms Inc (NASDAQ:META) shares were dumped by several other company executives too. However, many of these transactions were part of scheduled sales. On February 15, 2024, Meta’s CFO Susan J. Li sold 30,194 shares of Meta Platforms Inc (NASDAQ:META) at $475.43 per share. Since then the stock is up 2%.
Meta Platforms Inc’s (NASDAQ:META) COO Javier Olivan on April 19 sold 490 shares of Meta Platforms Inc (NASDAQ:META) at $501.18 per share. Since then the stock is up 3%.
In one of our articles, we talked about an insider trading analyst who called Mark Zuckerberg’s selling of Meta shares a “red flag” because of a weird pattern he noticed. Read more details here.
Patient Capital Opportunity Equity Strategy stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its first quarter 2024 investor letter:
“Meta Platforms, Inc. (NASDAQ:META) was a top contributor in the first quarter gaining another 37.5%. Performance has been supported by strong top and bottom-line growth as the company maintains its leadership in the advertising space, despite Reels still being under monetized versus Newsfeed and Stories. The company continues to return cash to shareholders, increasing their buyback program by another $50B in February (6.4% of shares outstanding), and announcing their first dividend of $0.50 per share (0.39% yield). The company trades at 25x this year’s earnings, which we do not view as too demanding for a company with some of the best AI assets, an improving topline that should lead to free cash flow outperformance and continued capital return.”
3. Zoom Video Communications Inc (NASDAQ:ZM)
Cathie Wood’s Stake: $413,826,532
Number of Hedge Fund Investors: 41
Cathie Wood has been holding onto Zoom Video Communications Inc (NASDAQ:ZM) despite the stock’s decline from its glory days back in the pandemic era. Many believe Zoom Video Communications Inc (NASDAQ:ZM) will never see the demand it saw during the pandemic amid increasing competition and a decline in work from home trends. Aparna Bawa, a director at Zoom Video Communications Inc (NASDAQ:ZM), on April 18 sold 21,468 shares of Zoom Video Communications Inc (NASDAQ:ZM). Since then Zoom Video Communications Inc (NASDAQ:ZM) is up 2% as of April 24.
Meridian Hedged Equity Fund made the following comment about Zoom Video Communications, Inc. (NASDAQ:ZM) in its Q3 2023 investor letter:
“Zoom Video Communications, Inc. (NASDAQ:ZM) provides video conferencing software widely used for virtual meetings, webinars, and online collaboration by businesses, schools, and individuals. The company has shown stability in its business model after a remarkable rise in 2020. While its valuation is more reasonable now, the company maintains strong operating margins. The enterprise sector, particularly through successful upselling, has shown resilience despite economic headwinds and seat churn. Zoom’s contact center solution has shown early traction with a growing roster of customers and a rapid rollout of new features, showing strong potential for future growth. The stock performed well during the quarter following results that exceeded expectations, reaffirming its potential for growth.”
2. Roblox Corp (NYSE:RBLX)
Cathie Wood’s Stake: $451,258,524
Number of Hedge Fund Investors: 50
Ranking second in our list of the stocks in Cathie Wood’s portfolio sold by insiders is Roblox Corp (NYSE:RBLX). On January 24, 2024, Gregory Baszucki, a director at Roblox Corp (NYSE:RBLX), sold 8,333 shares at a price of $41.17 per share. Since then the stock is down 11%.
1. Coinbase Global Inc (NASDAQ:COIN)
Cathie Wood’s Stake: $1,172,098,890
Number of Hedge Fund Investors: 41
Coinbase Global Inc (NASDAQ:COIN) is one of the few rewarding investments of Cathie Wood this year, since the stock is up 50% in 2024 through April 23. Yet Coinbase Global Inc’s (NASDAQ:COIN) CEO Brian Armstrong is busy selling Coinbase shares. He sold 250,000 shares of Coinbase Global Inc (NASDAQ:COIN) at $259.87 per share on March 8, leaving no stake in Coinbase Global Inc (NASDAQ:COIN). Coinbase President and COO Emilie Choi also sold 100,000 shares of Coinbase Global Inc (NASDAQ:COIN) at $249.9 per share. Since this transaction Coinbase Global Inc (NASDAQ:COIN) stock is down 8%.
Patient Capital Opportunity Equity Strategy stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its first quarter 2024 investor letter:
“This quarter we benefited from our exposure in the cryptocurrency space. The approval of 11 new spot Bitcoin ETFs dramatically opened Bitcoin to new investors for the first time. Investors’ interest was material, with assets under management growing to $55B over a single quarter. Coinbase Global, Inc. (NASDAQ:COIN) was a beneficiary of these events as we believe it is building the foundation of the crypto-ecosystem. We continue to believe COIN has the potential to be the platform for crypto as it has continued to widen its moat by investing throughout the most recent crypto winter.”
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