This Software Stock Is Up 11% In A Month — And Cathie Wood Just Loaded Up Over $2M Worth Of Shares

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.

Also Read: Compare Online Investing Brokers

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.

Read Next: Jerome Powell Gets Reminder From Senator Brown Ahead Of Fed Meet: 'Don't Forget Your Responsibility To Promote Maximum Employment'

Market News and Data brought to you by Benzinga APIs
Posted In: Long IdeasNewsBroad U.S. Equity ETFsShort IdeasTechTrading IdeasETFsARK Investment ManagementCathie Wood
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!