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Cathie Wood's Favorite Stocks to Buy

Catherine D. Wood is the CEO and founder of ARK Investment Management, which manages $42 billion in troubled innovation mutual funds. She is a well-known stock picker. Wood is well-known for investing his money in fields such as genomics, self-driving vehicles, financial technology, and artificial consciousness. In 2020, the ARK Innovation ETF (ARKK), which is Wood's top-performing store, will have returned more than 152 percent.

The portfolio of Cathie Wood's ARK Investments has recently been rebalanced, with the company selling approximately $1.3 billion worth of Tesla, Inc. (NASDAQ: TSLA) shares in the past 90 days, as of early November. The stock of Tesla, Inc. (NASDAQ: TSLA) remained the most valuable holding of ARK Investment Management at the end of the third quarter of 2018.

Cathie Wood is currently investing in UiPath Inc. (NYSE: PATH), Invitae Corporation (NYSE: NVTA), Palantir Technologies Inc. (NYSE: PLTR), and DraftKings, Inc., among other companies (NASDAQ: DKNG).

The trading stage of digital currencies Coinbase Global, Inc. (NASDAQ: COIN) is ARK's third-largest holding, accounting for 3.83 percent of the total asset as of the end of the third quarter of 2021. Cathie Wood increased her holdings in the cryptocurrency stock by 25 percent during the six-month period from June to September. Stock in Coinbase Global, Inc. (NASDAQ: COIN) has gained nearly half a percent in the last six months of the year.

Here are her top picks for the year:

The stake in Pacific Biosciences of California, Inc. (NASDAQ: PACB) is valued at $580,575,000 dollars by ARK Investment Management.

The 13F Portfolio of ARK Investment Management has a 1.39 percent return.

The following number of hedge funds are currently in operation: 28.

Pacific Biosciences of California, Inc. (NASDAQ: PACB) is a company that manufactures genomic sequencing frameworks for use in genomic sequencing. As of the third quarter of 2021, the organization had generated a total income of $34.9 million, outperforming expectations by $1.3 million and recording an 83 percent income growth. Pacific Biosciences of California, Inc. (NASDAQ: PACB) introduced 326 Sequel II/IIe frameworks in the second quarter of this year, an increase from 168 frameworks in the first quarter of this year. During the year, the stock gained 69 percent in value.

 

Cathie Wood increased the value of her Pacific Biosciences of California, Inc. (NASDAQ: PACB) property by 11 percent in the second quarter of 2021 compared to the previous quarter. ARK Investment Management purchased 22.7 million shares of the genomic stock, valued at $580 million, at the end of the third quarter of this year.

According to Insider Monkey's data as of the end of the subsequent quarter, 28 multifaceted investments had disclosed holding stakes in Pacific Biosciences of California, Inc. (NASDAQ: PACB). These stakes are worth a total of $1.64 billion in terms of their absolute value.

In October, Cowen's investigator Dan Brennan maintained a Market Perform rating on Pacific Biosciences of California, Inc. (NASDAQ: PACB) and set a $30 price target on the stock.

4. Invitae Corporation (NYSE: NVTA) ARK Investment Management has a stake worth $736,845,000 dollars in the company.

The 13F Portfolio of ARK Investment Management has a 1.76 percent return.

The number of hedge fund investors is 31.

A California-based DNA testing company, Invitae Corporation (NYSE: NVTA), is publicly traded on the NYSE. Since its inception in 2010, the organization has administered approximately 2 million hereditary testing administrations.

According to the most recent filings, the mutual funds overseen by Cathie Wood owned over 25.9 million shares of Invitae Corporation (NYSE: NVTA) at the end of the second quarter of 2021, for a total value of $737 million, representing 1.76 percent of the portfolio. Between June and September, ARK Investment Management increased its holdings in the stock by 22 percent, according to SEC filings.

On November 9, Wells Fargo's Dan Leonard maintained an Equal Weight rating on Invitae Corporation (NYSE: NVTA), with a value focus of $25 per share.

3. Fate Therapeutics, Inc. (NASDAQ: FATE) ARK Investment Management has a stake worth $646,177,000 dollars in the company.

The 13F Portfolio of ARK Investment Management has a 1.55 percent return.

The number of hedge fund investors is 40.

Cathie Wood is adding another stock to her portfolio, Destiny Therapeutics, Inc. (NASDAQ: FATE), which she purchased in the second quarter of last year, giving her a 46 percent stake in the company. Biopharmaceutical stock represents 1.55 percent of ARK Investment Management's total portfolio value, according to Bloomberg. To close out the third quarter, the asset claimed over 10.9 million shares of the biopharma stock, which was worth $646 million at the time of purchase.

The biotech company based in California facilitates the collaboration of disease immunotherapies. The stock of Fate Therapeutics, Inc. (NASDAQ: FATE) was upgraded to a Buy rating from a Neutral rating on November 8 by Citi analyst Yigal Nochomovitz. The stock was assigned a value focus of $87 by the expert.

At the end of the second quarter of 2021, 40 flexible investments in the Insider Monkey data set held stakes in Fate Therapeutics, Inc. (NASDAQ: FATE), compared to 39 flexible investments in the previous quarter with stakes worth $2.63 billion.

A stake in UiPath Inc. (NYSE: PATH) valued at $1,259,161,000 is held by ARK Investment Management.

The 13F Portfolio of ARK Investment Management has a 3.02 percent return.

The number of hedge fund investors is 46.

Its primary focus is on the development of computerization stages. UiPath Inc. (NYSE: PATH) is a worldwide programming organization with a global presence. Cathie Wood increased her position in the stock by 102 percent in the second quarter of 2021 compared to the fourth quarter of the previous year, bringing the total number of offers to 23.9 million. Wood's asset held $1.26 billion in value in technology stock at the end of the third quarter of this year.

After UiPath Inc. (NYSE: PATH) announced a partnership with Snowflake Inc., a cloud-based information stage provider based in Montana, shares of the company rose 1.89 percent on October 13 as a result of the news.

On November 16, Phil Winslow of Credit Suisse initiated an Outperform rating on UiPath Inc. (NYSE: PATH) in the company's stock. The possibility exists that UiPath will grow to become the world's largest completely computerized venture stage, according to Winslow. The stock was valued at $75 by the examiner, who set a $75 price target for it.

Insider Monkey's data shows that 46 mutual funds in its database held stakes in UiPath Inc. (NYSE: PATH) at the end of the second quarter of 2021, compared to 0 mutual funds at the end of the previous quarter.

1. ARK Investment Management's stake in Coinbase Global, Inc. (NASDAQ: COIN) is valued at $1,590,805,000.

The 13F Portfolio of ARK Investment Management has a 3.82 percent return.

Holders of hedge funds totaled 49 in total.

Coinbase Global, Inc. (NASDAQ: COIN) is the largest digital currency exchange in the United States, with 7.4 million executing clients on a month-to-month basis as of Q3 2021. The cryptocurrency stock was first made available to the public in April and has gained more than 32% in the first half of the year.

Coinbase Global, Inc. (NASDAQ: COIN) is one of the stocks that Cathie Wood purchased in the third quarter of 2021, and the cryptocurrency stock accounts for 3.82 percent of ARK Investment Management's total assets under management. Cathie Wood increased her holdings in the stock by 25 percent between June and September, according to her financial disclosure form. ARK Investment Management is the largest investor in the cryptocurrency stock, having made 6.99 million offers worth $1.59 billion over the course of the year.