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Cathie Wood Was Buying These 5 Stocks for 2024

This article presents an overview of Cathie Wood Was Buying These 5 Stocks for 2024. For a detailed overview of such stocks, read our article, Cathie Wood Was Buying These 11 Stocks for 2024.

5. Toast Inc (NYSE:TOST)

Cathie Wood’s Stake: $42,829,195

Cloud-based restaurant management software company Toast Inc (NYSE:TOST) ranks fifth in our list of the top Cathie Wood stock picks in 2024. ARK increased its stake in Toast Inc (NYSE:TOST) by 102% during the fourth quarter of 2023.

Toast Inc (NYSE:TOST) recently posted Q4’2023 results, beating both earnings and revenue estimates. Toast Inc (NYSE:TOST) also revealed a restructuring plan that would eliminate 550 jobs. During the first quarter of 2024, the company expects its Q1 adjusted EBITDA of $15 million to $25 million.

4. Moderna Inc (NASDAQ:MRNA)

Cathie Wood’s Stake: $43,499,760

Cathie Wood’s ARK Invest has a $43.5 million stake in Moderna Inc (NASDAQ:MRNA) as of the end of 2023. ARK increased its hold in Moderna Inc (NASDAQ:MRNA) by 69% during the fourth quarter of last year.

As of the end of the fourth quarter of 2023, 39 hedge funds out of the 933 hedge funds tracked by Insider Monkey had stakes in Moderna Inc (NASDAQ:MRNA).

3. Pinterest Inc (NYSE:PINS)

Cathie Wood’s Stake: $53,507,224

Cathie Wood increased her stake in Pinterest Inc (NYSE:PINS) by 153% in the fourth quarter of 2023, concluding the year with a stake worth about $54 million.

Pinterest Inc (NYSE:PINS) shares recently fell after Pinterest Inc (NYSE:PINS) posted earnings which showed weak revenue in Q4’2023 and a lackluster guidance. However, Piper Sandler reiterated its Overweight rating on the stock and increased its price target to $48. Piper Sandler highlighted Pinterest’s partnership with Google and Q1 guidance in which the company expects 250-500 basis points of sequential acceleration.

TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about Pinterest, Inc. (NYSE:PINS) in its Q3 2023 investor letter:

“Slightly better were the results of Pinterest, Inc. (NYSE:PINS), an image-based social media company. The second quarter included a slight revenue acceleration and profit margin improvement. Forward guidance calls for further revenue expansion amid signs of recovery in the advertising market. Management’s comments on the Amazon advertising partnership were also encouraging. While Pinterest slid by -1%, that exceeded the index sector average return of -9%.

2. Trade Desk Inc (NASDAQ:TTD)

Cathie Wood’s Stake: $154,689,069

Real-time programmatic marketing automation technologies company Trade Desk Inc (NASDAQ:TTD) saw an increased interest from Cathie Wood during the fourth quarter of 2023 as ARK upped its hold in Trade Desk Inc (NASDAQ:TTD) by a whopping 1163%. Cathie Wood, as of the end of 2023, owns a $155 million stake in Trade Desk Inc (NASDAQ:TTD).

Trade Desk Inc (NASDAQ:TTD) has been a profitable investment for Cathie Wood. The stock recently jumped after Trade Desk Inc (NASDAQ:TTD) posted better-than-expected Q4’2023 results and gave a strong guidance. Here’s what Citi analyst Ygal Arounian said about Trade Desk Inc (NASDAQ:TTD) while increasing his price target for the stock to $110:

“After the 4Q guide indicated growth stepping down to high-teens, we saw investors raise questions on fundamental growth drivers for 2024. While we still see the outperformance in the quarter as being driven by a return to a better macro since November, which has continued into 1Q, more than vindication of any questions around CTV CPM growth or the impact of cookie deprecation, management spent time on why it believes TTD is positioned well to manage a changing CTV landscape, and cookie-deprecation.”

Polen U.S. SMID Company Growth Strategy stated the following regarding The Trade Desk, Inc. (NASDAQ:TTD) in its fourth quarter 2023 investor letter:

“During the quarter, we trimmed our exposure in several existing holdings and eliminated our position in The Trade Desk, Inc. (NASDAQ:TTD). As a reminder, we have been using The Trade Desk, a leading programmatic advertising platform, as a source of funds over the past several months, mainly due to the high market capitalization and significant stock price appreciation, reducing our expected return outlook for the stock.”

1. Recursion Pharmaceuticals Inc. (NASDAQ:RXRX)

Cathie Wood’s Stake: $203,652,265

ARK Invest upped its stake in Utah-based clinical-stage biotechnology company Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) by 201% during the fourth quarter of 2023, ending the period with a $204 million stake in Recursion Pharmaceuticals Inc. (NASDAQ:RXRX). In July 2023 Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) had disclosed a $50 million investment from Nvidia for AI-based drug discovery.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the Cathie Wood’s Latest Stock Picks: 11 Biggest Positions and These Cathie Wood Stocks Are On Sale Now.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

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Buy This $3 Stock Now Before the 400% Surge Begins

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

Since March 2017, my stock picks have returned 16.5% annually. Today, I’ve found an opportunity even bigger than my British American Tobacco call.

Two years ago, Wall Street wrote off British American Tobacco (BTI) as a “melting ice cube.” The stock had crashed 40% from its peak, and consensus said the business was dying.

We looked under the cover and realized they were wrong.

We alerted our subscribers, and BTI returned 90% in just 16 months.

Now if you had invested just $10,000 in BTI in June 2024, you’d be sitting on $19,000 in October 2025.

Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

While the market panics over a surface-level revenue decline, our PhD-led research shows management has actually surgically cut $100 million in waste to focus on high-margin growth.

This pattern is a hallmark of our 16.5% annual return track record. The current opportunity offers a 400% upside potential—dwarfing even our 90% BTI return.

Get the ticker for our new “Underdog” pick and the full BTI case study for just 99 cents.

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