Cathie Wood-led investment management firm Ark Invest on Monday sold 182,283 shares —estimated to be worth $210.87 million — in $Tesla(TSLA.US)$, booking more profit in the electric vehicle stock as it continues to rise after recently joining the $1 trillion market capitalization club.
Tesla shares rose nearly 4% on Monday to close 1.74% higher at $1,156.87 a share on Monday. The stock has risen 58.5% year-to-date.
The St. Petersburg, Florida-based Ark Invest has been booking profit in the stock since early September when shares of the Elon Musk-led company started rising after months of sluggish performance.
Including the latest sale, the popular money managing firm has sold about $2.21 billion worth of shares in Tesla since the start of September.
Tesla continues to be Ark Invest's biggest bet across ETFs — a stock it predicts would hit the $3,000 mark by the end of 2025.
Ark Invest sold Tesla shares via the $ARK Innovation ETF(ARKK.US)$, the $ARK Next Generation Internet ETF(ARKW.US)$, and the $ARK Autonomous Technology & Robotics ETF(ARKQ.US)$ on Monday. No other ARK Invest ETF owns shares in Tesla.
Ahead of Monday’s trade, the three ETFs together held a total of 2.74 million shares — estimated to be worth $3.16 billion — in the electric vehicle company.
Here are a few other key trades for Ark on Monday:
Sold 273,725 shares — estimated to be worth $8.35 million — in $Meta Platforms(FB.US)$. The stock closed 1.24% lower at $341.01 a share on Monday.
Bought 404,371 shares — estimated to be worth $8.35 million — in $Palantir Technologies(PLTR.US)$. The stock closed 3.55% lower at $20.65 a share on Monday.
Bought 202,661 shares — estimated to be worth $46.8 million — in $Roku Inc(ROKU.US)$. Stock closed 1.33% lower at $230.98 a share.
Bought 474,219 shares — estimated to be worth $17.44 million — in $DraftKings(DKNG.US)$. Stock closed 1.80% higher at $36.79 a share.
Bought 79,418 shares — estimated to be worth $25 million — in $Coinbase(COIN.US)$ on the dip. The stock closed 5.13% lower at $315.48 a share.
Source: ARK Invest