Cathie Wood’s ARK ETFs Capitalized on the Pullback in Coinbase (COIN) and Robinhood (HOOD) Stocks

input: Cathie Wood’s ARK ETFs capitalized on the pullback in Coinbase (COIN) and Robinhood (HOOD) stocks to load up additional shares

Cathie Wood's ARK ETFs on Thursday capitalized on the pullback in Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD) stocks to load up additional shares.

The ARK Innovation Fund (ARKK) bought 29,353 new shares of Coinbase at $191.8 per share for a total of $5.63 million. The move comes following Coinbase's exclusion from the S&P 500 Index (SPX) and the broader weakness in the crypto markets.

Coinbase shares are trading lower by 58% year-to-date and down 64% over the past 12 months. At current levels, analysts see 68% potential downside.

Earlier this week, ARKK ETF had acquired 52,573 shares of the crypto platform, and the ARK Fintech Innovation ETF (ARKF) bought 11,605 shares.

Another notable trade made yesterday was the purchase of 143,855 shares of Robinhood Markets (NASDAQ:HOOD) at $39.07 per share for a total of $5.6 million. Earlier this week, the ARKK ETF purchased 269,864 shares of HOOD stock.

Additionally, the ARKK ETF and the ARK Genomic Revolution ETF (ARKG) bought a total of 105,974 CRISPR Therapeutics (NASDAQ:CRSP) shares for $4.6 million and 80,975 GitLab (NASDAQ:GITL) shares for $4.27 million.

Which Cathie Wood Pick Is Rated a ‘Strong Buy’ by Wall Street?

Using TipRanks’ Stock Comparison Tool, let's see what Wall Street thinks of Cathie Wood's stock picks.

Out of the four stocks, GitLab stock has a Strong Buy consensus rating among analysts.

CRISPR Therapeutics shares have a Hold rating with seven Buys, 14 Holds, and two Sells. The average CRISPR stock price target of $37.34 suggests about 22% downside potential.

Cathie Wood Dumps PATH Stock

Cathie Wood's ARK ETFs on Thursday reduced their exposure to UiPath (NYSE:PATH) stock as her ARK Next Generation Internet ETF (ARKW) sold 900,000 shares of the automation software company.

The move follows the recently reported mixed Q4 results and soft guidance from UiPath.

The reduced exposure comes after a period of increased investment in UiPath. Earlier this week, the ARKK ETF plowed $10 million into UiPath stock.

According to the SEC filing, the ARKK ETF and the ARKW ETF collectively sold 1,101,216 shares of PATH stock for $13 million.

The sell-off in UiPath stock is part of a broader trend in Cathie Wood's ARK ETFs, which have been selling off some of their largest holdings in recent months.

This sell-off comes amid macro uncertainties and tariff wars that are dragging down crypto markets and U.S. stocks. However, some of the deepest cuts in U.S. stocks over the past 12 months make them attractive bargain picks.

See more PATH analyst ratings