Cathie Wood Sells Another $265M In Tesla On Tuesday — These Are Other Key Trades

Cathie Wood-led Ark Invest on Tuesday further sold shares to book profit in Tesla Inc TSLA, its largest single-day sell so far this month in the electric vehicle maker company’s stock.

The popular money manager sold 340,618 shares — estimated to be worth $264.85 million — in the Palo Alto, California-based company.

Tesla stock closed 1.74% lower at $777.56 on Tuesday. The company's stock has jumped 5.6% so far this month and the year-to-date gains are about 6.55%.

The popular investment management firm deployed the Ark Autonomous Technology & Robotics ETF ARKW, the Ark Next Generation Internet ETF ARKW and the Ark Innovation ETF ARKK to sell shares in Tesla.

The hedge fund is known to be bullish on Tesla and the electric vehicle company remains its largest stock holding. Ark predicts Tesla will hit the $3,000 mark at the end of 2025.

Including the latest sale, the New York-based money managing firm has sold about $594 million worth of shares so far in September in the Elon Musk-led company.

Ark held a total of about 4 million shares — worth $3.17 billion — in the electric vehicle company, ahead of Tuesday’s trades.

See Also: Cathie Wood's Ark Sells Another $19.3M In Tesla As Stock Marches Upward

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

Sold 68,883 shares — estimated to be worth $5.12 million — in Snap Inc SNAP, on the day shares of the company closed 7.07% lower at $74.42 a share.

Sold 1,994 shares — estimated to be worth $5.4 million — in Alphabet Inc GOOG GOOGL. Shares of the company closed 3.76% lower at $2,723.68 on Tuesday.

Snapped 184,199 shares — estimated to be worth $42.33 million — in Coinbase Global Inc COIN, on the day shares closed 1.03% lower at $229.84.

Bought 205,707 shares — estimated to be worth $49.9 million — in Square Inc SQ, on the day shares of the Jack Dorsey-led company closed about  6% lower at $242.70.