Cathie Wood-led Ark Invest on Tuesday sharply reduced its exposure in Boeing Co BA a day after European budget airline Ryanair Holdings Plc RYAAY called off talks with the planemaker for a potential 737 MAX 10 jet order, worth billions of dollars, due to differences over pricing.
The popular money managing firm shed about one-third of the shares that it held in the planemaker via the Ark Space Exploration & Innovation ETF ARKX.
Ark Invest sold 23,800 shares — estimated to be worth about $5.1 million — in Boeing.
ARKX held about 71,202 shares in the Chicago-based planemaker ahead of Tuesday’s trades. No other ETF holds shares in Boeing.
UBS on Tuesday lowered the price target on Boeing to $290 from $310 but maintained a “Buy” rating on the shares.
Here are a few other key Ark trades from Tuesday:
Snapped up 54,600 shares — estimated to be worth $18.81 million — in Roku Inc ROKU. Shares of the San Jose, California-based company that makes a host of digital media players for video streaming, closed 0.70% higher at $344.68 on Tuesday.
Added 187,746 shares — estimated to be worth about $8.77 million — in Pfizer Inc PFE on the day shares of the pharma company closed 0.19% lower at $46.75.
Bought 150,007 shares — estimated to be worth about $1.2 million — in Markforged Holding Corp MKFG on the dip. Shares of the company closed about 13% at $8.03 on Tuesday.
Shed 429 shares — estimated to be worth about $1.5 million — in Amazon.com Inc AMZN. Shares of the e-commerce giant closed 0.9% higher at $3,509.29.
Sold 4,693 shares — estimated to be worth about $443,864 — in Trimble Inc TRMB. Shares of the software, hardware, and services technology company closed 0.3% lower at $94.58.
Bought 207,076 shares — estimated to be worth about $15.6 million — in Trade Desk Inc TTD, on the day shares of the company closed 3.73% lower at $75.28.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.