Cathie Wood-led ARK Investment Management bought over 26,000 shares of Twilio Inc
TWLO via two of the company’s exchange-traded funds at an estimated cost of over $2 million, based on Tuesday’s closing price. The stock purchase comes a day after Wood loaded up Tesla Inc TSLA shares.
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Twilio is the seventh largest holding in the ARK Next Generation Internet ETF ARKW with a weight of 5.84% while it is the fourth largest holding in the ARK Fintech Innovation ETF ARKF with a weight of 7.62%. Shares of the company have gained over 11% in the last month. Two analysts have downgraded their price targets for the stock, according to the Benzinga Analyst Stock Ratings tool.
The company is scheduled to announce its third-quarter results on Nov. 3. The customer engagement platform provided a third-quarter revenue guidance of $965-$975 million.
UiPath Sale: Wood also sold over 200,000 shares of robotic process automation software maker UiPath Inc PATH at $2.6 million based on Tuesday’s closing price.
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