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CATHIE WOOD GOES BARGAIN HUNTING: 3 STOCKS SHE JUST BOUGHT

By Rick Munarriz – Dec 24, 2024 at 7:30AM

Key Points

 * Cathie Wood added to her stakes in Amazon, GitLab, and 10x Genomics on
   Monday.
 * Amazon hit a new high last week despite an ill-timed strike at some of its
   facilities.
 * Amazon's trading nicely higher this year, but GitLab and 10x Genomics are
   marching to different beats in 2024.
 * Motley Fool Issues Rare “All In” Buy Alert

STOCKS MENTIONED

AMZN
Amazon
$228.60
Arrow-Thin-Down
(+1.6%)
+$3.54
GTLB
GitLab
$60.36
Arrow-Thin-Down
(0.6%)
$0.35
TXG
10x Genomics
$14.69
Arrow-Thin-Down
(-0.3%)
-$0.04
+2 more Show all


NASDAQ: AMZN


AMAZON



Market Cap
$2,367B

Today's Change
Arrow-Thin-Down
(1.58%) $3.56
Current Price
$228.62
Price as of December 24, 2024, 11:42 a.m. ET


The aggressive growth fund investor has slowed her shopper this holiday season,
but she still made time to build up some of her existing positions.

Even the perpetually moving Cathie Wood takes a step back over the holidays. The
co-founder, CEO, and investment manager for Ark Invest has been slowing the pace
of her portfolio moves lately. She bought shares of just three stocks on Monday,
but they're still pretty notable.

Wood increased her existing positions in Amazon (AMZN 1.58%), GitLab (GTLB
0.60%), and 10x Genomics (TXG -0.20%) on Monday. Let's take a closer look at
Wood's latest purchases for Ark Invest's family of exchange-traded funds.

Arrows-In Collapse



NASDAQ: AMZN

Amazon
Today's Change
(1.58%) 3,56 $
Current Price
228,62 $
Arrow-Thin-Down
YTD1w1m3m6m 1y
+46.70%
5y
Price VS S&P
AMZN


KEY DATA POINTS

Market Cap
$2,367B
Day's Range
226,13 $ - 229,14 $
52wk Range
144,05 $ - 233,00 $
Volume
7,750,013
Avg Vol
38,642,529
Gross Margin
48.41%
Dividend Yield
N/A


1. AMAZON

On the eve of Christmas Eve, Wood was buying shares of the country's leading
online retailer, even though Amazon isn't exactly out of favor these days. The
shares hit an all-time high last week. The stock's 48% jump this year is roughly
double the market's year-to-date performance.

It's an odd time for Amazon to be within a stone's throw of its highwater mark.
Teamsters are expanding their strike at Amazon shipping and fulfillment centers
during the company's busiest times of the year. 

Image source: Getty Images.

At the same time, this will probably be the third year in a row that net sales
fall short of 12% growth, and Amazon's guidance for the holiday quarter that
wraps up next week wasn't ideal. But don't let the ho-hum top-line gains
dissuade you from considering Amazon as a worthy investment. Net sales did climb
11% higher to $158.9 billion in its latest quarter, but the jumps get bigger as
we go down the income statement. Amazon's operating profit and net income, for
example, rose 55% in the same quarter.



Meanwhile, the e-tail bellwether is targeting 7% to 11% in net sales growth.
Analysts still see net sales rising 11% in 2025 -- once again failing to top 12%
growth -- but once again, that should be on another large increase in
profitability.

Wall Street pros aren't letting the lackluster upticks this year temper their
enthusiasm. Ivan Feinseth at Tigress Financial boosted his price target on
Amazon shares from $245 to $290 near the end of last week. He sees Amazon
continuing to raise the bar as it leans on generative AI to improve its
operations and shopper experience. His new price goal represents a 29% gain in
the coming year from Monday's closing price.


Arrows-In Collapse



NASDAQ: GTLB

GitLab
Today's Change
(0.60%) 0,36 $
Current Price
60,37 $
Arrow-Thin-Down
YTD1w1m3m6m 1y
-6.92%
5y
Price VS S&P
GTLB


KEY DATA POINTS

Market Cap
$10B
Day's Range
59,51 $ - 60,86 $
52wk Range
40,72 $ - 78,53 $
Volume
747,315
Avg Vol
2,243,142
Gross Margin
89.00%
Dividend Yield
N/A


2. GITLAB

Not every stock on Wood's shopping list on Monday is rallying this year. Unlike
Amazon, GitLab is trading just below where it was when the year began. The
provider of a flexible cloud-based platform that helps an organization's tech
team build, test, and deploy software has earned upticks, but they haven't come
this year.

Revenue is slowing at GitLab, but it still clocked in with respectable 31%
year-over-year growth in its latest quarter. It has beaten Wall Street profit
targets by at least 44% in each of its past five financial reports. Customers
are happy, going by the 124% dollar-based net retention rate. In other words,
users of its platform are spending 24% more on GitLab than they were a year ago.



The stock is not cheap at nearly 100 times this fiscal year's earnings. Its
forward earnings multiple of 74 isn't going to wow value investors, either.
However, GitLab's strong growth and engagement deserve better than a stock that
is back to where it was a year ago. Wood apparently sees a bargain here.

Arrows-In Collapse



NASDAQ: TXG

10x Genomics
Today's Change
(-0.20%) -0,03 $
Current Price
14,70 $
Arrow-Thin-Down
YTD1w1m3m6m 1y
-73.95%
5y
Price VS S&P
TXG


KEY DATA POINTS

Market Cap
$2B
Day's Range
14,63 $ - 14,99 $
52wk Range
12,95 $ - 57,78 $
Volume
302,880
Avg Vol
2,096,879
Gross Margin
65.73%
Dividend Yield
N/A


3. 10X GENOMICS

The third of the three purchases on Wood's shopping list to kick off this
holiday-abridged trading week is 10x Genomics. The life sciences company aims to
give biology researchers the tools to analyze tissue at the individual cell
level, but it's also one of market's biggest disappointments of 2024.

The stock is trading 74% lower this year. Just two stocks with market caps
larger than 10x Genomics' $2 billion have suffered steeper downticks. Revenue
did decline in its latest quarter. Profitability it also several years away. The
life sciences specialist was initially eyeing 8% to 12% growth this year. Its
latest outlook calls for a 3% decline at the midpoint for all of 2024. But
although this is a stock going in the wrong direction, its differentiated
platform does offer long-term promise. Wood thinks the time is right to build up
her stake in a stock that has surrendered nearly three-quarters of its value
this year.



John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member
of The Motley Fool's board of directors. Rick Munarriz has no position in any of
the stocks mentioned. The Motley Fool has positions in and recommends 10x
Genomics, Amazon, and GitLab. The Motley Fool has a disclosure policy.



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