Billionaire Steve Cohen and Insiders Are Buying These 10 Stocks

Published on March 20, 2024 at 1:32 pm by Fahad Saleem in Hedge Funds, Insider Trading, News

In this article, we will take a detailed look at the Billionaire Steve Cohen and Insiders Are Buying These 10 Stocks. For a quick overview of such stocks, read our article Billionaire Steve Cohen and Insiders Are Buying These 5 Stocks.

Investors are holding their breath ahead of the key Fed decision about interest rates. While analysts expect the central bank to keep interest rates unchanged, the biggest question is whether we are in for a higher for longer scenario where interest rates would remain elevated for several more months because of the sticky inflation problem. However, the Federal Reserve cannot postpone rates cuts for too long because doing so could tip the economy into recession. Some analyst firms also believe that irrespective of the outcome of today’s Fed meeting, stocks are expected to take a breather in the short term.

Piper Sandler recently said in a note that the current “four-and-a-half-month bull market” needs a “break.” Piper Sandler does not see a market correction; it’s simply expecting a “consolidation” that could create further buying opportunities for investors.

In this backdrop, we are taking a look at some of the stocks that are bought by billionaire Steve Cohen as well as corporate insiders.

Billionaire Steve Cohen’s Point72 Asset Management is one of the few hedge funds that continues to impress the Wall Street despite rising rates and overall tough environment in the investing world. Bloomberg recently reported that after having raised about $3.2 billion last year, the hedge fund is now turning away new investors to focus more on its existing clients. The report said Point72 Asset Management had a whopping $32.3 billion in assets under management when 2024 started. The fund reportedly gained about 11% last year.

Methodology

For this article we first scanned Point72 Asset Management’s Q4’2023 portfolio and picked 10 stocks that saw heavy insider buying activity over the past one year. We used Insider Monkey’s insider trading stock screener to find the stocks with insider purchases. Some top names in the list include Gates Industrial Corporation PLC (NYSE:GTES), Exxon Mobil Corp (NYS:XOM) and Coinbase Global Inc (NASDAQ:COIN). But why is it important to keep tabs on hedge fund and insider activity? Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

10. Larimar Therapeutics Inc. (NASDAQ:LRMR)

Steve Cohen’s Stake: $2,049,320

Larimar Therapeutics Inc (NASDAQ:LRMR) ranks tenth in our list of the stocks both billionaire Steve Cohen and insiders are buying. James E. Flynn, who is a director by deputization and a 10% stake owner at Larimar Therapeutics Inc (NASDAQ:LRMR), snapped up 4,290,617 shares of Larimar Therapeutics Inc (NASDAQ:LRMR) on February 16, 2024, at $8.74 per share. Since then through March 20 the stock has lost about 32% in value.

As of the end of the fourth quarter of 2023, Steve Cohen’s hedge fund reported owning a $2 million stake in Larimar Therapeutics Inc (NASDAQ:LRMR). Overall, 14 hedge funds tracked by Insider Monkey have stakes in Larimar Therapeutics Inc (NASDAQ:LRMR).

9. Akero Therapeutics Inc (NASDAQ:AKRO)

Steve Cohen’s Stake: $15,044,522

Akero Therapeutics Inc (NASDAQ:AKRO) is one of the top stocks in Steve Cohen’s portfolio that insiders are also buying. As of the end of the fourth quarter of 2023, Point72 Asset Management had a $15 million stake in Akero Therapeutics Inc (NASDAQ:AKRO).

Graham Walmsley, a director at Akero Therapeutics Inc (NASDAQ:AKRO) board, on September 19, 2023, bought 520,000 shares of Akero Therapeutics Inc (NASDAQ:AKRO) at $29.69 per share. Since then the stock has lost about 50% in value.

Like AKRO, insiders and hedge funds also like Gates Industrial Corporation PLC (NYSE:GTES), Exxon Mobil Corp (NYS:XOM) and Coinbase Global Inc (NASDAQ:COIN).

8. Lucid Group Inc. (NASDAQ:LCID)

Steve Cohen’s Stake: $10,351,203

Steve Cohen owns a $10.3 million stake in Lucid Group Inc (NASDAQ:LCID) as of the end of the fourth quarter of 2023. On June 22, 2023, Public Investment Fund, which has a director and 10% stake owner status at Lucid Group Inc (NASDAQ:LCID), bought 265,693,703 shares of Lucid Group Inc (NASDAQ:LCID) at $6.83 per share. The stock has seen a bloodbath since then, having lost about 55% in value.

As of the end of the fourth quarter of 2023, 21 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Lucid Group Inc (NASDAQ:LCID).

During Q4 earnings call Lucid management talked about guidance and other business updates:

“We have been able to consistently sustain a strong balance sheet over time. And as we have done for the last couple of years, we will continue to be opportunistic in exploring and diversifying access to financing sources. Accounts receivable increased to $51.8 million in the fourth quarter, up sequentially from $23.4 million in the third quarter. The increase was primarily due to vehicle sales related to EV purchase agreements with the government of Saudi Arabia, and you can expect that this mix could result in fluctuations on a quarter-to-quarter basis. Turning to inventory. Total inventory decreased 12.9% sequentially primarily due to raw material drawdown.

We continue to see a box to a significant reduction in raw material days of inventory on hand as we work towards greater predictability in the transportation channel and refine our inventory management processes and systems. Capital expenditures for 2023 was $910.6 million, slightly below the $1 billion to $1.1 billion range we guided to on our third quarter earnings conference call. The lower CapEx was primarily related to developed projects into 2024. CapEx in the fourth quarter was $272.6 million, up from $192.5 million in Q3. Moving to the outlook for 2024. We forecast production of approximately 9,000 vehicles in 2024, and we’ll continue to prudently manage and adjust our production to meet our sales and delivery needs.”

Read the full earnings call transcript here.

7. Instacart (NASDAQ:CART)

Steve Cohen’s Stake: $21,402,293

Instacart (NASDAQ:CART), now Maplebear Inc., is one of the stocks that is on the radar of both billionaire Steve Cohen and corporate insiders. Point72 Asset Management owns a $21.4 million stake in Instacart (NASDAQ:CART) as of the end of the fourth quarter of 2023. Ravi Gupta, a director at Instacart’s (NASDAQ:CART) board, on February 20 this year, loaded up on over two million shares of the company at $28.54 per share. The stock has jumped by about 33% since then.

As of the end of the fourth quarter of 2023, 38 hedge funds out of the 933 funds in Insider Monkey’s database were long Instacart (NASDAQ:CART). The most significant stake in Instacart (NASDAQ:CART) is owned by Daniel Sundheim’s D1 Capital Partners which owns a $678 million stake in Instacart (NASDAQ:CART).

In addition to CART, Steve Cohen also likes Gates Industrial Corporation PLC (NYSE:GTES), Exxon Mobil Corp (NYS:XOM) and Coinbase Global Inc (NASDAQ:COIN).

Last month, during the fourth quarter earnings call, the company talked about important business updates:

“2023 was a transformational year across our product, operations and financials. In Q4, we once again accelerated GTV growth and expanded profitability, all while investing in new initiatives to support our future growth. Let me provide a bit more color on our Q4 results and our future outlook, starting with GTV and orders. In Q4, we delivered GTV of $7.9 billion, up 7% year-over-year and above the high end of our guidance range. This outperformance was largely driven by stronger than expected orders growth, especially around the holidays. Our strong Q4 results generated positive momentum for us to start 2024. In Q1, we expect GTV to be $8 billion to $8.2 billion, representing year-over-year growth of 7% to 10% and our fourth consecutive quarter of accelerating GTV growth.

While our business is typically strongest in Q4 and Q1 due to seasonality, and while this year, we have the benefit of leap day in Q1, even after accounting for both of these factors, we expect an encouraging step-up in our anticipated growth compared to the 5% growth we delivered for full year 2023. Now, on transaction revenue. In Q4, transaction revenue was 7.1% of GTV compared to 7.2% in Q3 2023 and Q4 2022. While we continue to drive fulfillment efficiencies, in Q4, we found more opportunities to invest in consumer incentives, and these hit contra revenue instead of marketing spend, which hits marketing expense. Incentives allow us to better target behaviors that we believe will lead to stronger customer acquisition, resurrection and habituation.

Next, for advertising and other revenue. In Q4, ad and other revenue was up 7% year-over-year, in line with our expectations and in Q1, we expect year-over-year growth for ad and other revenue to be largely in line with Q4 2023. It’s important to remember that advertising growth lags GTV growth, so while many of our brand partners are excited by our ongoing acceleration of GTV growth, it will take time before this is reflected in ad and other revenue. Turning to adjusted operating expenses. We generated strong operating leverage in Q4, with adjusted operating expense as a percent of GTV decreasing to 5.3% compared to 6.1% in Q4 2022. Today, we also announced a restructuring plan, which we expect to result in a onetime charge of $19 million to $24 million.”

Read the full earnings call transcript here.

6. Coinbase Global Inc. (NASDAQ:COIN)

Steve Cohen’s Stake: $27,605,974

Point72 Asset Management has been enjoying gains from its $27.6 million stake in Coinbase Global Inc (NASDAQ:COIN) in 2024, since the stock is up by about 46% so far in the period through March 20, thanks to the massive bull run in the crypto markets. On May 9, 2023, Fred Ehrsam, the co-founder of Coinbase Global Inc (NASDAQ:COIN), who also sits on Coinbase Global Inc’s (NASDAQ:COIN) board, amassed 810,000 COIN shares for $61.77 per share. Since then through March 20 the stock has gained a massive 282%.

As of the end of the fourth quarter of 2023, 41 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Coinbase Global Inc (NASDAQ:COIN). The biggest hedge fund stakeholder of Coinbase Global Inc (NASDAQ:COIN) during this period was ARK Investment Management of Catherine D. Wood which owns a $1.5 billion stake in Coinbase Global Inc (NASDAQ:COIN).

Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its fourth quarter 2023 investor letter:

“Coinbase Global, Inc. (NASDAQ:COIN) climbed an incredible 131.7% in the quarter outpacing the 57% gain in bitcoin over the same period as investors became excited about the potential approval of a Bitcoin ETF in the new year. Coinbase continues to stand out as the lead survivor in an industry of fading and failing leaders. Cost savings initiatives taken earlier in the year have resulted in three quarters of positive EBITDA leading to expectations for “meaningful positive adjusted EBITDA” for the full year 2023. We continue to believe COIN has the potential to be the platform for crypto with $5B in liquidity providing the ability to invest and weather any crypto winters.”

Click to continue reading and see Billionaire Steve Cohen and Insiders Are Buying These 5 Stocks.

Suggested Articles:

Disclosure. None. Billionaire Steve Cohen and Insiders Are Buying These 10 Stocks was initially published on Insider Monkey.

Headline NASDAQ:CART NASDAQ:LRMR NASDAQ:LCID NASDAQ:DISH Show more...

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

The AI infrastructure supercycle
The onshoring boom driven by Trump-era tariffs
A surge in U.S. LNG exports
And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

Access to our Detailed Report on our AI, Tariffs, and Nuclear Energy Stock with 100+% potential upside within 12 to 24 months
BONUS REPORT on our #1 AI-Robotics Stock with 10000% upside potential: Our in-depth report dives deep into our #1 AI/robotics stock’s groundbreaking technology and massive growth potential.
One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.
One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149
Bonus Content: Premium access to members-only fund manager video interviews
Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active.
30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

Insider Monkey Ads

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up

Billionaire Steve Cohen and Insiders Are Buying These 10 Stocks

Published on March 20, 2024 at 1:32 pm by Fahad Saleem in Hedge Funds, Insider Trading, News

10. Larimar Therapeutics Inc. (NASDAQ:LRMR)

9. Akero Therapeutics Inc (NASDAQ:AKRO)

8. Lucid Group Inc. (NASDAQ:LCID)

7. Instacart (NASDAQ:CART)

6. Coinbase Global Inc. (NASDAQ:COIN)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Premium

Log In

Sign Up

Billionaire Steve Cohen and Insiders Are Buying These 10 Stocks

Published on March 20, 2024 at 1:32 pm by Fahad Saleem in Hedge Funds, Insider Trading, News

Share

10. Larimar Therapeutics Inc. (NASDAQ:LRMR)

9. Akero Therapeutics Inc (NASDAQ:AKRO)

8. Lucid Group Inc. (NASDAQ:LCID)

7. Instacart (NASDAQ:CART)

6. Coinbase Global Inc. (NASDAQ:COIN)

Share

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff