Cathie Wood's Ark Investment Management on Tuesday booked more profit in $Tesla(TSLA.US)$, selling 44,132 shares — estimated to be worth $50.7 million based on the latest closing price — in the electric vehicle maker's stock.
The Elon Musk-led company's stock, which had risen about 50% in 2021, closed 4.2% lower at $1,149.6 a share on Tuesday.
Tesla shares soared 13.5% on Monday after it reported fourth-quarter delivery volumes that far surpassed expectations.
Ark Invest owns shares in Tesla via three of its exchange-traded funds — the $ARK Innovation ETF(ARKK.US)$, the $ARK Autonomous Technology & Robotics ETF(ARKQ.US)$ and the $ARK Next Generation Internet ETF(ARKW.US)$.
The three ETFs held about 1.7 million shares worth $2.05 billion in Tesla, prior to Tuesday's trade.
Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.
See Also: Cathie Wood Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead
A Tesla super-bull, Wood has long favored the Musk-led company and set a $3,000 price target for the electric vehicle stock for 2025.
The St. Petersburg, Florida-based Ark has also been loading up in U.S.-listed Chinese electric vehicle maker $XPeng(XPEV.US)$ recently.
Here are some other key Ark Invest trades from Tuesday:
Sold 1.98 million shares — estimated to be worth $81.2 million — in $Twitter(TWTR.US)$. The micro-blogging company's stock closed 4.2% lower at $40.9 a share.
Bought 462,613 shares — estimated to be worth $8 million — in $Robinhood(HOOD.US)$. Shares of the commission-free trading app that deals in stocks, exchange-traded funds, and cryptocurrencies closed 5.6% lower at $17.4 a share.
Bought 304,356 shares — estimated to be worth $47.6 million — in $Block(SQ.US)$. Shares of Block, formerly known as Square, closed 4.7% lower at $156.3 a share.
Bought 1,185,460 shares — estimated to be worth $31.5 million — in $DraftKings(DKNG.US)$. Shares of the fantasy sports company closed 4.1% lower at $26.6 a share.
Sold 250,359 shares — estimated to be worth $12.5 million — in $Pinduoduo(PDD.US)$ on the day shares of the Chinese agri-tech company closed 11.2% lower at $49.8 a share.
Source: ARK Invest