Cathie Wood Sells More Tesla Shares As EV Maker Crosses $1T Valuation, Buys Dip In These 3 Social Media Stocks

Cathie Wood-led investment management firm Ark Invest on Monday booked more profit in Tesla Inc TSLA as the electric vehicle maker’s stock soared higher to cross the $1 trillion market capitalization.

Ark Invest sold 22,598 shares — estimated to be worth $23.16 million — in Tesla, based on its Monday’s closing price, via the Ark Next Generation Internet ETF ARKW. 

Tesla shares, which have risen 40.4% so far this year, jumped 12.6% higher to close at $1,024.86 a share on Monday after landing its biggest ever order from rental car company Hertz Global Holdings HTZZ.

See Also: Tesla Joins The Trillion-Dollar Club: Why Elon Musk Finds It 'Strange'

Besides ARKW, the Ark Autonomous Technology & Robotics ETF ARKQ and the Ark Innovation ETF ARKK own shares in Tesla.

No other Wood-led ETF owns shares in the Elon Musk-led company.

The three ETFs held a total of 3.28 million shares — worth $2.98 billion — in the electric vehicle company, ahead of Monday’s trade.

Tesla remains Ark Invest's biggest bet across ETFs despite the latest sales — a stock it predicts would hit the $3,000 mark by the end of 2025.

Ark began booking profit in the stock in early September when shares of the Musk-led company began an upward march.

Including the latest sale, the New York-based money managing firm has sold about $917.25 million worth of shares in Tesla since the start of September.

See Also: ​​Cathie Wood Sells Another $41.5M In Tesla As Shares Rally, Buys This Stock Instead

Here are a few other key Ark Invest trades from Monday:

• Sold 336,715 shares — estimated to be worth $17.06 million — in Pinterest Inc PINS on the day shares of the company sank 12.71% to $50.68 a share.
• Sold 157,938 shares — estimated to be worth $38.99 million — in PayPal Holdings Inc PYPL on the day shares of the online payments company closed 2.7% higher at $246.88 a share. 
• Bought 462,490 shares — estimated to be worth $25.2 million — in Snap Inc SNAP on the dip. Shares of the photo and video sharing app closed 1.16% lower at $54.5 a share on Monday.
• Bought 103,155 shares — estimated to be worth $6.40 million — in Twitter Inc TWTR on the day shares of the company closed 0.21% lower at $62.11 a share. Twitter shares are down 4.65% in the past five days.