Cathie Wood-led investment management firm Ark Invest on Monday sold 182,283 shares —estimated to be worth $210.87 million — in Tesla Inc TSLA, 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, the Ark Next Generation Internet ETF ARKW and the Ark Autonomous Technology & Robotics ETF ARKQ 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 Facebook Inc FB. 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 Inc PLTR. 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. Stock closed 1.33% lower at $230.98 a share.
- Bought 474,219 shares — estimated to be worth $17.44 million — in DraftKings Inc DKNG. Stock closed 1.80% higher at $36.79 a share.
- Bought 79,418 shares — estimated to be worth $25 million — in Coinbase Global Inc COIN on the dip. The stock closed 5.13% lower at $315.48 a share.
Photo: Courtesy of Tesla
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