Cathie Wood Sheds $14.5M In Snapchat Parent, And Piles Up On Etsy, Robinhood

Cathie Wood-led Ark Invest on Tuesday shed nearly 12.6% of its stake in Snap Inc SNAP, continuing the investment firm’s months-long selling spree in the Snapchat parent.

Ark Invest sold 198,442 shares, estimated to be worth about $14.56 million, in Snap via the Ark Fintech Innovation ETF ARKF.

Shares of the social media company closed 0.16% lower at $73.38 on Tuesday.

Wood’s firm also holds a position in the social-media company which competes with Facebook Inc’s FB photo-sharing app Instagram, via the Ark Next Generation Internet ETF ARKW

Together, the two ETFs held about 1.57 million shares, worth $115.2 million, in Snap ahead of Tuesday’s trade. 

See Also: Cathie Wood Offloads $9.3M In Snapchat, Buys $32M In Etsy

The New York-based investment firm also snapped up 90,831 shares, worth about $17.3 million, in Etsy Inc ETSY, an e-commerce platform for handmade goods and vintage items, via ARKF.

Etsy shares closed 0.83% higher at $190.46 on Tuesday.

This was ARKF’s second straight buy in Etsy. The popular investment firm also holds a position in Etsy via ARKW.

Ahead of Tuesday’s trade, the two ETFs together held 523,086 shares, worth $98.8 million in Etsy.

The investment firm, known for its position on Coinbase Global Inc COIN, also pumped in money to buy 89,622 shares, estimated to be worth about $4.19 million, in Robinhood Markets Inc HOOD, as the shares of the company rocketed to blow past the $38 initial public offer pricing for the first time since the listing last week.

See Also: Cathie Wood Snaps Up $45M In Robinhood On Debut, Adds $73M In Twitter

Robinhood shares closed 24.2% higher at $46.80 on Tuesday.

Both ARKF and ARKW held about 1.55 million shares, worth $58.26 million in Robinhood ahead of Tuesday’s trade.

Some of the other key Ark Invest sells on Tuesday included BYD Co BYDDF and Tencent Holdings TCEHY and buys included Markforged Holding Corp MKFG.

Posted In: Long IdeasNewsSector ETFsBroad U.S. Equity ETFsShort IdeasSmall CapTrading IdeasETFsARK InvestCathie WoodSnapChat

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