Cathie Wood Stock Portfolio: 5 Newest Stock Picks This Year

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

Number of Hedge Fund Holders: 49

According to Cathie Wood’s latest SEC 13F filings, the hedge fund owned 5,617,415 shares of Coinbase Global, Inc. (NASDAQ:COIN) worth $1.42 billion as of August 5, 2021, accounting for 2.64% of ARK Investment Management LLC’s holdings.

On September 14, Piper Sandler analyst Richard Repetto reiterated an Overweight rating on Coinbase Global, Inc. (NASDAQ:COIN) with a price target of $335 per share. 

In the second quarter of 2021, Coinbase Global, Inc. (NASDAQ:COIN) reported an EPS of $6.78, beating estimates by $4.09. The company’s revenue in the second quarter came in at $2.23 billion and beat revenue estimates by $345.98 million. Coinbase Global, Inc. (NASDAQ:COIN) had 8.8 million monthly transacting users in Q2 2021, up from 1.5 million users in Q2 2020.

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $2.96 billion in Coinbase Global, Inc. (NASDAQ: COIN), up from 0 in the preceding quarter.