Cathie Wood Loads Up Further On Netflix, Coinbase; Trims Palantir

Cathie Wood-led Ark Investment Management on Monday deployed the Ark Space Exploration & Innovation ETF ARKX to buy 3,007 shares, estimated to be worth about $1.6 million, in the video streaming company Netflix Inc NFLX.

Shares of Netflix closed 1.13% higher at $533.03 on Monday. 

As of Monday’s trade, the popular investment firm held 110,187 shares, worth about $58.7 million in Netflix via the ARK Next Generation Internet ETF ARKW and ARKX.

See Also: Apple Lands 25 Daytime Emmy Award Nominations For SVOD Service But It Still Doesn't Match Up To Netflix

Ark also piled on Coinbase Global Inc COIN on the day. The cryptocurrency exchange's stock soared after a filing revealed Ark Invest has applied for a Bitcoin exchange-traded fund.

Coinbase shares closed 9.86% higher at $246.69 on Monday.

Ark deployed the Ark Fintech Innovation ETF ARKF to buy 82,414 shares, estimated to be worth about $20.33 million, in Coinbase. The investment firm also holds the shares of the cryptocurrency exchange via ARKW and the Ark Innovation ETF ARKK.

Ark's stake in COIN is currently valued at $1.25 billion with about 5.08 million shares. In comparison, Ark Invest holds about 4.99 million shares, worth about $3.44 billion, in Tesla Inc TSLA, its largest holding.

Ark Invest shed 21,300 shares, estimated to be worth about $583,194, in Palantir Technologies Inc PLTR, its first sale in the data analytics company in months. Shares of Palantir closed 2.66% higher at $27.38 on Monday.

Ark Invest holds shares of Palantir via ARKW and ARKK.

Some of the other key Ark buys on Monday included UiPath Inc PATH and sells include Alphabet Inc GOOG GOOGL.

Posted In: Long IdeasNewsSector ETFsTrading IdeasETFsARK Investment ManagementCathie WoodSVOD