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
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