Cathie Wood's Ark Continues Profit-Booking In Tesla, Selling Another $39M Worth Of Shares

Cathie Wood-led investment management firm Ark Invest on Thursday sold 35,730 shares — estimated to be worth $39.17 million — in Tesla Inc TSLA, booking more profit in the electric vehicle stock that recently breached the $1 trillion market capitalization club and continues to be its largest exposure. 

Tesla shares, which have risen about 50.24% so far this year, closed 0.68% higher at $1,096.38 a share on Thursday.

Ark Invest last sold shares in Tesla about two weeks ago and has been booking profit in the stock since early September when shares of the company began an upward march.

Including the latest sale, the New York-based money managing firm has sold about $1.8 billion worth of shares in Tesla since the start of September.

See Also: Cathie Wood Sells Another $94M In Tesla And Buys These Stocks Instead

Despite the latest sales, Tesla remains 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 and the Ark Next Generation Internet ETF ARKW on Thursday. The Ark Autonomous Technology & Robotics ETF ARKQ too owns shares in Tesla.

Ahead of Thursday’s trade, the three ETFs together held a total of 3.82 million shares — worth $4.19 billion — in the electric vehicle company.

Here are a few other key trades for Ark on Thursday:

• Sold 252,816 shares — estimated to be worth $50.8 million — in Unity Software Inc. U.
• Bought 46,455 shares — estimated to be worth $744,209 — in Burning Rock Biotech Ltd BNR. Shares closed 0.87% lower at $16.02 a share on Thursday.
• Bought 752,495 shares — estimated to be worth $8.05 million — in Skillz Inc SKLZ. Shares closed 1.65% lower at $10.70 a share.

Photo: Courtesy of Tesla