Cathie Wood Loads Up $27.4M In Okta On Dip, Also Adds Zoom

Cathie Wood-led Ark Investment Management bought 123,385 shares, estimated to be worth about $27.44 million, in Okta Inc OKTA on Thursday.

Okta shares closed 10% lower at $222.40 on the day after the San Francisco-headquartered identity management company’s “solid but noisy” earnings report and the surprise exit of Chief Financial Officer Michael Kourey.

The investment firm held about 236,421 shares, worth about $58.2 million as of Thursday’s trade via the Ark Next Generation Internet ETF ARKW. No other ETF holds shares of Okta.

See Also: Why Okta's Stock Is Trading Lower Today

The popular investment management firm led by Wood also piled up 58,345 shares of Zoom Video Communications Inc ZM, estimated to be worth about $19.04 million.

The Ark Innovation ETF ARKK bought the shares. Its stake in the video calling company amounted to 2.64 million shares, worth about $860.6 million, ahead of Thursday's trade.

Zoom is the sixth-largest holding in ARKK behind Tesla Inc TSLA, and Teladoc Health Inc TDOC among a portfolio of 54 stocks. The investment firm also holds 503,042 shares, worth about $164 million, in Zoom via ARKW, as of Thursday.

The video calling company is among Wood’s bets that have done well during the rush to work and learn from home during the pandemic last year. 

Zoom shares closed 0.12% higher at $326.43 on Thursday and were up 0.79% in extended hours. 

Some of the other key Ark Invest sells included Syros Pharmaceuticals Inc SYRS, and buys included 908 Devices Inc MASS.