Cathie Wood-led Ark Investment Management on Wednesday snapped up 110,731 shares, estimated to be worth about $71.38 million, in Tesla Inc TSLA on the dip.
Tesla shares closed 2.26% lower at $644.65 on Wednesday and have advanced about 7.6% since Ark last bought the company's shares in early June.
The New York-based investment deployed the Ark Innovation ETF ARKK to buy the shares and also hold Tesla stock via two other traded funds, namely, the Ark Autonomous Technology & Robotics ETF ARKQ and the Ark Next Generation Internet ETF ARKW.
See Also: Nio's Next Move In Europe Could Be Battling Tesla In Crucial Market Germany, Indicates Job Post
All three ETFs - ARKK, ARKQ and ARKW- count Tesla among their largest holdings and together held about 4.93 million shares, worth $3.25 billion, in the electric vehicle company ahead of Wednesday’s trade.
A Tesla bull, Ark Funds had in March updated its price target on electric vehicle maker’s stock to $3,000 per share, to be reached by 2025.
Some of the other key Ark Invest buys on Wednesday included Coinbase Global Inc COIN, UiPath Inc PATH, Quantum-Si Inc QSI and sells included Pluristem Therapeutics Inc PSTI and Pure Storage Inc PSTG.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
