Cathie Wood Buys Another $59M In Coinbase As Bitcoin Recovers, Entirely Cuts Apple Stake

benzinga2021-05-21

Cathie Wood-led Ark Investment Management on Thursday snapped up 254,738 shares, worth about $59.46 million, in CoinbaseGlobal Inc(NASDAQ:COIN) as the cryptocurrency exchange bounced back after a bullish call from analysts.

The New York-based investment firm bought the shares via theARK Fintech Innovation ETF(NYSE:ARKF) and theArk Innovation ETF(NYSE:ARKK).

Ark held a total of 3.95 million COIN shares, worth about $887.8 million, ahead of Thursday’s trade via ARKF, ARKK and the ARK Next Generation Internet ETF(NYSE:ARKW).

Loop Capital's Kourtney Gibson told CNBC on Thursday he believes Coinbase could be worth $400 to $450 per share and Wedbush analyst Moshe Katriinitiated coverage on the crypto exchangewith an Outperform rating and a price target of $275.

On Wednesday, Wood forecastBitcoin(CRYPTO: $BTC) toreach $500,000 per coin.

Coinbase shares closed 3.83% higher at $233.40 on Thursday.

Ark also completely divested its residual Apple Inc(NASDAQ:AAPL) stake as it sold 188 shares. Shares of Apple closed 2.1% higher at $127.31 on Thursday.

Some of the other key Ark sells on Thursday included Tencent Holdings(OTC:TCEHY),Pure Storage Inc(NYSE:PSTG),LendingTree Inc(NASDAQ:TREE) and buys included UiPath Inc(NYSE:PATH).

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精彩评论

  • WTurtle
    2021-05-21
    WTurtle
    Fast and furious. Who like please comment!
  • DragonKC
    2021-05-21
    DragonKC
    Cathie Wood always give positive n booster to stock market. 
  • ppp00
    2021-05-21
    ppp00
    Well, still hope can go lower a little more so that we small retail investor can buy low first 
  • MrWondeful
    2021-05-21
    MrWondeful
    Bold!
  • Abez
    2021-05-21
    Abez
    Wow
  • 88_TWB_88
    2021-05-21
    88_TWB_88
    Wow....Comments & like thks
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