Cathie Wood Trims Alphabet Holding — Bets Big On This Video Game Software Company

Cathie Wood-led ARK Investment Management divested a small stake in class C shares of Alphabet Inc GOOG GOOGL on Monday.

The ARK Autonomous Tech. & Robotics ETF ARKQ sold 1,000 class C shares of the tech giant at an estimated valuation of over $106,000, based on Monday's closing price. Alphabet Class C stock is the 12th largest holding of the fund with a weight of 2.24%.

Also Read: Everything You Need to Know About Google Stock

In a recent interview with The Wall Street Journal, Alphabet CEO Sundar Pichai shared plans to integrate conversational artificial intelligence features into the company's flagship search engine. Advances in AI would supercharge Google’s ability to answer an array of search queries, Pichai said.

Google will continue to improve Bard with new AI models, Pichai had said, according to the report, but declined to shed light on when the product would become freely available without a waitlist.

Shares of Alphabet have gained over 16% in the last month. Recently, UBS increased the price target on the stock to $123 from $120 earlier.

Major Buy: Wood's funds also bought a huge stake in video game software developer Unity Software Inc U at an estimated valuation of over $6.2 million based on Monday's closing price. Shares of the company have gained over 10% in the last month.

The purchase was done via four of ARK's funds, including ARK Innovation ETF ARKK, ARK Space Exploration & Innovation ETF ARKX, ARK Next Generation Internet ETF ARKW, and ARK Autonomous Tech. & Robotics ETF ARKQ.

Unity Software recently released Unity Industry, a set of optimized products and services that enterprises across manufacturing, infrastructure, energy, and other industries can leverage to build and deploy interactive real-time experiences.

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