Cathie Wood Shed Another $11M From Tesla Stake On Friday, Bought Disney And These Stocks Instead

Cathie Wood-led Ark Invest on Friday continued trimming its stake in Tesla Inc TSLA and increased its exposure in Walt Disney Co DIS on Friday.

The popular investment management firm sold 14,362 shares — estimated to be worth $10.9 million— in Tesla via the Ark Next Generation Internet ETF ARKW.

Two other ETFs — the Ark Innovation ETF ARKK and the Ark Autonomous Technology & Robotics ETF ARKQ own shares in the electric vehicle company.

The investment firm has sold an estimated $310 million in the Elon Musk-led company so far in September in five days of selling.

Shares of the Palo Alto, California-based company closed 0.33% higher at $759.49 on Friday and have risen 3.2% so far this month. Year-to-date, Tesla shares have risen 4.07%.

The three ETFs held a total of about 4.09 million shares — worth $3.1 billion — in the electric vehicle company, as of Friday’s trades.

The popular investment management firm has a large exposure in Tesla, a stock it predicts will hit the $3,000 mark at the end of 2025.  

Here are some of the other key trades for Ark on Friday:

  • The New York-based investment firm snapped up 5,303 shares in Disney — estimated to be worth a little less than $1 million.
  • Bought 228,082 shares — estimated to be worth about $9.66 million — in Robinhood Markets Inc HOOD.
  • Bought 74,087 shares — estimated to be worth about $4 million — in UiPath Inc PATH

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

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