fbpx
QQQ
+ 0.89
339.46
+ 0.26%
DIA
+ 0.07
344.91
+ 0.02%
SPY
+ 0.75
422.86
+ 0.18%
TLT
-0.23
142.77
-0.16%
GLD
-2.04
179.78
-1.15%

Cathie Wood Adds $33.8M Shares In Shopify, Sells More Square To Pile Up Coinbase

April 27, 2021 3:15 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Cathie Wood Adds $33.8M Shares In Shopify, Sells More Square To Pile Up Coinbase

Cathie Wood-led Ark Investment Management on Monday snapped up 28,989 shares of the Canadian e-commerce company Shopify Inc (NYSE:SHOP), worth about $33.8 million, as the stock jumped ahead of its scheduled earnings report later this week.

The investment firm’s Ark Innovation ETF (NYSE:ARKK) bought the shares of the company that closed 6.1% higher at $1,166 on Monday.

The investment firm also sold 70,959 shares of the digital payment company Square Inc (NYSE:SQ) estimated to be worth $18.15 million, as of Monday’s close. 

Shopify caters to small and midsize businesses. The firm has two segments — subscription solutions (43% of fiscal 2018 revenue) and merchant solutions (57% of fiscal 2018 revenue).

See Also: Why Shopify's Stock Is Trading Higher Today

ARKK sold shares of Square representing 0.25% of the ETF. Square is ARKK’s fourth-largest holding behind Tesla Inc (NASDAQ:TSLA), Teladoc Health Inc (NYSE:TDOC), and Roku Inc (NASDAQ:ROKU). 

ARKK holds a total of 5.15 million shares, worth about $1.32 billion, and representing 5.29% of the ETF's weight.

The New York-based hedge fund also bought 76,288 shares of the cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) worth about $23.23 million on the stock’s Monday’s close.

The investment firm's ARK Next Generation Internet ETF (NYSE:ARKW) made the trade. Shares of the company closed 4.44% higher at $304.54 on Monday, giving the cryptocurrency exchange a market cap of $60.66 billion. 

Coinbase’s market cap has however climbed down from $85.8 billion on its blockbuster listing earlier this month.

ARKW holds a total of 1,749,240 shares of the cryptocurrency exchange worth about $154.8 million and representing 2.2% of the ETF’s weight.

See Also: Why Cathie Wood Is Bullish On Skillz

Other Ark Buys On Friday:

  • UiPath Inc (NYSE:PATH)
  • Ionis Pharmaceuticals Inc (NASDAQ:IONS)
  • Zymergen Inc (NASDAQ:ZY)
  • TuSimple Holdings (NASDAQ:TSP)
  • Tencent Holdings (OTC:TCEHY)
  • Pinduoduo Inc (NASDAQ:PDD)
  • JD.com Inc (NASDAQ:JD)
  • Iridium Communications (NASDAQ:IRDM
  • Recursion Pharmaceuticals (NASDAQ:RXRX)
  • 908 Devices (NASDAQ:MASS
  • Jaws Spitfire Acquisition (NYSE:SPFR)
  • Niu Technologies (NASDAQ:NIU)

Other Ark Sells On Friday:

  • Syros Pharmaceuticals (NASDAQ:SYRS)
  • Phreesia (NYSE:PHR)
  • Pluristem Therapeutics (NASDAQ:PSTI)
  • PACCAR (NASDAQ:PCAR)
  • Nvidia (NASDAQ:NVDA)
  • DocuSign (NASDAQ:DOCU
  • Pure Storage Inc (NYSE:PSTG)
  • PayPal Holdings (NASDAQ:PYPL)
  • Taiwan Semiconductor Manufacturing Co (NYSE:TSM)
  • Xilinx Inc (NASDAQ:XLNX)
  • Silvergate Capital (NYSE:SI)
  • Agora Inc (NASDAQ:API)
  • LendingTree Inc (NASDAQ:TREE)

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Cathie Wood Cuts Apple Stake Almost Entirely — And Buys More Coinbase

Cathie Wood-led Ark Investment Management on Monday shed nearly all of its stake in Apple Inc (NASDAQ: AAPL) and continued to snap up shares of Coinbase Global Inc (NASDAQ: COIN). read more

Cathie Wood Cuts Apple Stake By 30% And Buys Coinbase, DraftKings

Cathie Wood-led Ark Investment Management shed more shares of Apple Inc (NASDAQ: AAPL) on Monday, just days after halving its stake in the maker of iPhones and iPads, and snapped up shares of cryptocurrency exchange Coinbase Global Inc (NASDAQ: read more

Cathie Wood Sells Another $35.7M Worth Of Square Stock And Loads Up $25.8M In Coinbase

Cathie Wood-led Ark Investment Management sold another 140,682 shares of the payments company Square Inc (NYSE: SQ), estimated to be worth $35.7 million as of Tuesday's close, as it looks to rebalance its portfolio. read more