Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

Benzinga2021-04-22

Cathie Wood-led Ark Investment Management on Wednesday snapped up millions of shares of the New York-based software automation companyUiPath IncNYSEPATH

The investment firm deployed all its six active ETFs to buy the 2.74 million shares estimated to be worth $188.98 million as of UiPath’s Wednesday close of $69.

Trades were made by the Ark Innovation ETF ARKK 2.38%, Autonomous Technology & Robotics (BATS:ARKQ), Next Generation Internet ETF ARKW 1.74%, Fintech InnovationETF ARKF 1.36%, Genomic Revolution ETF (BATS:ARKG) and the Space Exploration & Innovation ETF (BATS:ARKX).

ARKF bought 238,407 shares, ARKG bought 540,806 shares, ARKK bought 1,348,999 shares, ARKQ bought 187,267 shares, ARKW bought 384,976 shares, and ARKX bought 38,475 shares; all representing about 0.38% of the respective ETFs.

The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes. PATH closed 5.34% higher on Wednesday, giving the company a market valuation of $35.8 billion.

Wood’s firm, which counts Tesla as its largest holding and had recently updated thestock’s target price to $3,000

ARKK sold Tesla shares representing 0.497% of the ETF. Tesla continues to be Ark’s top holdings.

The new York-based investment firm also sold 307,575 shares ofSquare IncSQ 0.05%, estimated to be worth about $75.4 million. Square is among Ark’s top three holdings.

ARKK sold 170,764 shares representing 0.175% of the ETF and ARKW sold 136,811 shares representing 0.49% of the ETF.

The investment firm also sold 83,881 shares of the software companyXilinx IncXLNX 2.69%slated to be acquired by chipmakerAdvanced Micro Devices IncAMD 2.95%. ARKQ and ARKX bought shares estimated to be worth about $10.6 million as of the stock’s Wednesday closing price of $126.95.

It also snapped up more shares of the exercise bike makerPeloton Interactive IncPTON 6.17%buying 152,289 shares via ARKW and estimated to be worth about $15.2 million as of the stock’s Wednesday close.

Peloton shares closed 6.17% lower at $99.93 on Wednesday.

The investment firm bought a total of 58,881 shares of the online streaming websiteNetflix IncNFLX 7.4%via ARK and ARKX ETFs. Netflix stock closed 7.40% lower at $508.90 on Wednesday. It has a 52-week high of $593.29 and low of $393.60.

The investment firm sold 119,279 shares of the online payment company, representing about 0.46% of the ARKW ETF.

PayPal shares closed 0.17% higher at $264.89 on Wednesday. It has a 52-week high of $309.14 and low of $107.41.

Other Ark Buys On Wednesday:

  • Recursion PharmaceuticalsRXRX 8.72%
  • Ionis PharmaceuticalsIONS 0.8%
  • 908 DevicesMASS 0.12%
  • SkillzSKLZ 34.18%
  • Iridium CommunicationsIRDM 4.93%
  • DraftKingsDKNG 5.51%
  • Coinbase GlobalCOIN 2.77%
  • Berkeley LightsBLI 2.69%
  • Beam TherapeuticsBEAM 4.43%
  • Jaws Spitfire AcquisitionSPFR 0.69%
  • Niu TechnologiesNIU 4.8%
  • 3D SystemsDDD 12%
  • TencentTCEHY 1.51%
  • PinduoduoPDD 2.44%
  • Reinvent Technology PartnersRTP 0.7%

Other Ark Sells On Wednesday:

  • IntuitINTU 0.88%
  • NvidiaNVDA 1.25%
  • LendingTreeTREE 0.85%
  • WorkdayWDAY 0.68%
  • Thermo FIsher ScientificTMO 0.39%
  • SyrosPharmaceuticalsSYRS 0.82%
  • NovartisNVS 0.97%
  • RocheRHHBY 2.78%
  • RegeneronPharmaceuticalsREGN 0.41%
  • PhreesiaPHR 3.92%
  • TwitterTWTR 2.53%
  • TeslaTSLA 3.5%
  • Synopsys(SNPS)
  • RokuROKU 0.5%
  • PACCARPCAR 1.66%
  • Pure StoragePSTG 2.22%
  • HubSpotHUBS 1.74%
  • DocuSignDOCU 0.03%
  • Intercontinental ExchangeICE 0.11%

Photo Courtesy of Uipath

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • SCP03
    2021-04-22
    SCP03
    Should have bought in yeaterday! ?
  • Daruleeee
    2021-04-22
    Daruleeee
    Woot
  • Yoxin
    2021-04-22
    Yoxin
    Good
  • RaymondSCF
    2021-04-22
    RaymondSCF
    ???
  • JayD
    2021-04-22
    JayD
    Shifting some from Tesla to Uipath.. not sure which is the better bet currently.. [傲嬌] 
  • skyel
    2021-04-22
    skyel
    She will buy back Tesla again 
Leave a comment
17