5 New Stock Picks of Billionaire Paul Tudor Jones

1. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 46

Coinbase Global, Inc. (NASDAQ:COIN) was founded in 2012 and is based in Wilmington, Delaware. The company provides financial infrastructure and technology for the global crypto universe. Paul Tudor Jones added Coinbase Global, Inc. (NASDAQ:COIN) to his portfolio by purchasing 1,167 shares worth $222,000. 

On May 24, MoffettNathanson analyst Lisa Ellis maintained a Buy recommendation on Coinbase Global, Inc. (NASDAQ:COIN) but slashed the price target on the stock to $200 from $600 after updating her valuation to account for a revised outlook for the company, as well as market conditions. She is assuming the difficult crypto cycle will continue in 2022, with Coinbase Global, Inc. (NASDAQ:COIN)’s trading volumes down 70% year-over-year and total revenue declining 50% year-over-year. She is also assuming 2023 will be mostly flat like 2022, with crypto reaccelerating in 2024 and projects that 2025 will be the peak year of the present cryptocurrency cycle.

According to Insider Monkey’s Q1 data, 46 hedge funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN), compared to 57 funds in the prior quarter. Cathie Wood’s ARK Investment Management is the leading shareholder of the company, with almost 7 million shares worth $1.3 billion. 

Here is what Longleaf Partners Fund has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2021 investor letter:

“We also have seen plenty of IPO/SPAC craziness showing both that private players need public markets more than they admit and that there is more volatility embedded in these newer companies than a private quarterly mark might admit. As for how efficient both the private and public markets are, we would encourage you to really delve into some of those multi-hundred-page S1s for many of the newest public companies to see the huge gap between the last valuation at which the company was funded and/or granted shares to its executives and the often much higher price at which the company went public – Coinbase is a prime example.”

You can also take a look at 10 Consumer Technology Stocks to Invest In According to Ken Fisher’s Fisher Asset Management and Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio. 

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