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

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

Cathie Wood-led Ark Investment Management on Friday bought 150,556 shares, worth about $26.15 million, in Walt Disney Co (NYSE: DIS), marking its debut in the media and entertainment company as analysts pointed to benefits from the reopening of theme parks in 2021.

DIS shares fell 2.58% at $173.70 on Friday. The company reported fiscal second-quarter earnings after market hours on Thursday.

See Also: Walt Disney Shares Pull Back After Q2 Earnings: What Do Analysts Think?

Walt Disney World Resort has announced that visitors are no longer required to wear masks in most outdoor areas.

The Disney shares were purchased for the ARK Next Generation Internet ETF (NYSE: ARKW). Shares of ARKW closed 4.14% higher at $128.60 on Friday. 

ARKW also sold 26,621 shares, worth about $13.1 million, in video streaming company Netflix Inc (NASDAQ: NFLX).

Ark also holds 23,226 shares, worth about $11.3 million, in Netflix via its Ark Space Exploration & Innovation ETF (BATS: ARKX). 

See also: How to Buy Disney Stock

Disney and Sony Group Corporation’s (NYSE: SONY) Sony Pictures Entertainment last month announced a multi-year content licensing deal that will give Disney U.S. streaming and television rights for “Spider-Man” and other upcoming Sony movies after their initial streaming on Netflix.

Other Ark Buys On Friday:

  • Uipath Inc (NYSE: PATH)
  • Twilio Inc (NYSE: TWLO)
  • Repare Therapeutics Inc (NASDAQ: RPTX)
  • Recursion Pharmaceuticals Inc (NASDAQ: RXRX)
  • 908 Devices Inc (NASDAQ: MASS)
  • Signify Health Inc (NYSE: SGFY)
  • Ionis Pharmaceuticals Inc (NASDAQ: IONS)
  • Exact Sciences Corporation (NASDAQ: EXAS)
  • CM Life Sciences II Inc (NASDAQ: CMII)
  • Berkeley Lights Inc (NASDAQ: BLI)
  • Codexis Inc (NASDAQ: CDXS)
  • Accolade Inc (NASDAQ: ACCD)
  • Surface Oncology Inc (NASDAQ: SURF)
  • Zoom Video Communications Inc (NASDAQ: ZM)
  • Unity Software Inc (NYSE: U)
  • TuSimple Holdings (NASDAQ: TSP)
  • Palantir Technologies (NYSE: PLTR)
  • Pacific Biosciences of California Inc (NASDAQ: PACB)
  • Crispr Therapeutics AG (NASDAQ: CRSP)
  • Coinbase Global Inc (NASDAQ: COIN)
  • Kratos Defense & Security Solutions Inc (NASDAQ: KTOS)
  • Iridium Communications Inc (NASDAQ: IRDM)

Other Ark Sells On Friday:

  • Yeahka Ltd (OTC: YHEKF)
  • MarketAxess Holdings Inc (NASDAQ: MKTX)
  • Nvdia Corp (NASDAQ: NVDA)
  • Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)
  • Thermo Fisher Scientific Inc (NYSE: TMO)
  • Syros Pharmaceuticals Inc (NASDAQ: SYRS)
  • Sarepta Therapeutics Inc (NASDAQ: SRPT)
  • Roche Holding Ag (OTC: RHHBY)
  • Pluristem Therapeutics Inc (NASDAQ: PSTI)
  • Phreesia Inc (NYSE: PHR)
  • Baidu Inc (NASDAQ: BIDU)
  • Organovo Holdings Inc (NASDAQ: ONVO)
  • Lendingtree Inc (NASDAQ: TREE)
  • Synopsys Inc (NASDAQ: SNPS)
  • Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
  • Paccar Inc (NASDAQ: PCAR)
  • HUYA Inc (NYSE: HUYA)
  • Tencent Holdings (OTC: TCEHY)
  • Fastly Inc (NYSE: FSLY)
  • Crowdstrike Holdings Inc (NASDAQ: CRWD)
  • Workhorse Group Inc (NASDAQ: WKHS)
  • Virgin Galactic Holdings Inc (NYSE: SPCE)
  • Agora Inc (NASDAQ: API)

 

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