Cathie Wood’s Stock Portfolio: 2025 Stock Picks

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

ARK Investment Management’s Q3 Stake Value: $577.4 million

Number of Hedge Fund Holders: 42

Coinbase Global, Inc. (NASDAQ:COIN) serves the global cryptocurrency market as a financial infrastructure and technology provider. Its products include a consumer financial platform, a marketplace that helps organizations and institutions deal in bitcoin assets, and tech solutions that allow developers to make cryptocurrency-based apps and securely take cryptocurrency payments.

Oppenheimer analysts reduced their price target for Coinbase Global Inc. (NASDAQ:COIN) from $358 to $334 on January 17. Despite the lower price target, the firm maintained an Outperform rating on the bitcoin exchange’s shares. The correction follows the COIN stock’s dramatic decline since late December, which Oppenheimer analysts see as a possible investment opportunity. Oppenheimer is also optimistic about a number of key expectations, including a strong fourth-quarter performance in 2024 and the possibility of raising earnings estimates in the following years. In addition, the analysts point to a pro-crypto President, administration, Congress, and SEC, which might boost Coinbase’s chances under a favorable regulatory environment.

Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2024 investor letter:

“The top performers in the fourth quarter were once again Financials and Travel names. We’ve been over-indexed to them since the pandemic, which has served us well. We strategically added to certain financial names like Sofi Technologies (SOFI) and Coinbase Global, Inc. (NASDAQ:COIN) during the year. Both companies rebounded strongly in the fourth quarter. We believe Coinbase is building the platform for the crypto ecosystem. Certain recent advances (wallet, base improvements, USD Coin) could cause an adoption tipping point. We like that Coinbase continues to widen its moat by persistently investing in innovation.”

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