Cathie Wood Loads Up $7.65M In Tesla, Also Adds Google, Trims Netflix


Cathie Wood-led Ark Investment Management on Friday snapped up 12,763 shares, estimated to be worth about $7.65 million, in Tesla Inc TSLA after over a two-week pause, during which time, shares of the electric vehicle company have advanced about 6.3%.

Tesla shares closed 4.58% higher at $599.05 on Friday. Ark last bought Tesla shares on May 20.

The New York-based investment deployed three of its traded funds to buy Tesla shares, namely: the Ark Innovation ETF ARKK, Ark Autonomous Technology & Robotics ETF ARKQ and the Ark Next Generation Internet ETF ARKW.

See also: How to Invest in Tesla Stock

All three ETFs - ARKK, ARKQ and ARKW- count Tesla as its largest holdings and together hold about 4.83 million shares, worth about $2.77 billion of the electric vehicle company. ARKK holds most of the shares, worth about $1.97 billion.

Ark Funds in March updated its price target on Tesla shares to $3,000 per share, to be reached by 2025.

See Also: Cathie Wood Buys Another $39M Tesla Shares On Dip, Also Adds Bitcoin Plays Square, Coinbase

Ark Invest on Friday also bought 2,895 shares, estimated to be worth about $6.93 million, in Google parent Alphabet Inc GOOGL GOOG via its Ark Fintech Innovation ETF ARKF

Alphabet Class A shares closed 1.96% higher at $2,393.57 and Class C shares closed 1.96% higher at $2,451.7 on Friday.  ARKF made a debut in Alphabet last week as it added the shares of the company to a portfolio of 43 other stocks. 

Ark Invest also holds Alphabet via the Ark Space Exploration & Innovation ETF ARKX and ARKQ. 

The investment firm also sold 11,102 shares, worth about $12.4 million, in video streaming company Netflix Inc NFLX via ARKW on Friday.

ARKW holds a total of 123,160 shares, worth about $60.28 million, in Netflix. Ark Invest also holds Netflix shares via the Ark Space Exploration & Innovation ETF ARKX


Netflix shares closed 1.08% higher at $494.74 on Friday.

See Also: Cathie Wood Buys $26M Disney Shares And Sells $13M In Netflix: What You Need To Know

Some of the other key Ark Invest sells on Friday included Pluristem Therapeutics Inc PSTI and buys included Teradyne Inc TER.

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