Cathie Wood Loads Up $27.4M In Okta On Dip, Also Adds Zoom

Benzinga2021-05-28

Cathie Wood-led Ark Investment Management bought 123,385 shares, estimated to be worth about $27.44 million, in Okta Inc OKTA 9.79%on Thursday.

Okta shares closed 10% lower at $222.40 on the day after the San Francisco-headquartered identity management company’s“solid but noisy”earnings report and the surpriseexitof Chief Financial Officer Michael Kourey.

The investment firm held about 236,421 shares, worth about $58.2 million as of Thursday’s trade via the ArkNext Generation Internet ETF ARKW 0.85%. No other ETF holds shares of Okta.

The popular investment management firm led by Wood also piled up 58,345 shares of Zoom Video Communications Inc ZM 0.12%, estimated to be worth about $19.04 million.

The Ark Innovation ETF ARKK 0.76%bought the shares. Its stake in the video calling company amounted to 2.64 million shares, worth about $860.6 million, ahead of Thursday's trade.

Zoom is the sixth-largest holding in ARKK behind Tesla Inc TSLA 1.89%, and Teladoc Health Inc TDOC 0.42%among a portfolio of 54 stocks. The investment firm also holds 503,042 shares, worth about $164 million, in Zoom via ARKW, as of Thursday.

The video calling company is among Wood’s bets that have done well during the rush to work and learn from home during the pandemic last year.

Zoom shares closed 0.12% higher at $326.43 on Thursday and were up 0.79% in extended hours.

Some of the other key Ark Invest sells included Syros Pharmaceuticals Inc SYRS 17.17%, and buys included 908 Devices Inc MASS 2.2%.

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

Barbarazhao
2021-05-28
Barbarazhao
Great. I have both shares
oddox
2021-05-28
oddox
Wow shd i buy arkw?
szueyann
2021-05-28
szueyann
Please like and comment. Thanks
OO_898
2021-05-28
OO_898
Like
Pjun
2021-05-28
Pjun
Wow
- Ireneccw:
  ok
sengfuh
2021-05-28
sengfuh
Like
- Myname:
  Haha

Leave a comment

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I have both shares&nbsp;","listText":"Great. I have both shares&nbsp;","text":"Great. I have both shares","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/134071198","repostId":1191101389,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135760596,"gmtCreate":1622185221015,"gmtModify":1704181081118,"author":{"id":"3583109252998837","authorId":"3583109252998837","name":"oddox","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3583109252998837","idStr":"3583109252998837"},"htmlText":"Wow shd i buy arkw?&nbsp;","listText":"Wow shd i buy arkw?&nbsp;","text":"Wow shd i buy arkw?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135760596","repostId":1191101389,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135798558,"gmtCreate":1622182093774,"gmtModify":1704181032737,"author":{"id":"3573721781255613","authorId":"3573721781255613","name":"szueyann","avatar":"https://static.tigerbbs.com/cba9c6b1e785a9cf7301a7e6a2ff2354","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3573721781255613","idStr":"3573721781255613"},"htmlText":"Please like and comment. 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