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Cathie Wood Loads Up Further On Netflix, Coinbase; Trims Palantir

Benzinga2021-06-29

Cathie Wood-led Ark Investment Management on Monday deployed the Ark Space Exploration & Innovation ETF(BATS:ARKX) to buy 3,007 shares, estimated to be worth about $1.6 million, in the video streaming company Netflix Inc(NASDAQ:NFLX).

Shares of Netflix closed 1.13% higher at $533.03 on Monday.

As of Monday’s trade, the popular investment firm held 110,187 shares, worth about $58.7 million in Netflix via the ARK Next Generation Internet ETF(NYSE:ARKW) and ARKX.

Ark also piled on Coinbase Global Inc(NASDAQ:COIN) on the day. The cryptocurrency exchange's stock soared after a filing revealed Ark Invest has applied for a Bitcoin exchange-traded fund.

Coinbase shares closed 9.86% higher at $246.69 on Monday.

Ark deployed the Ark Fintech Innovation ETF(NYSE:ARKF) to buy 82,414 shares, estimated to be worth about $20.33 million, in Coinbase. The investment firm also holds the shares of the cryptocurrency exchange via ARKW and the Ark Innovation ETF(NYSE:ARKK).

Ark's stake in COIN is currently valued at $1.25 billion with about 5.08 million shares. In comparison, Ark Invest holds about 4.99 million shares, worth about $3.44 billion, in Tesla Inc(NASDAQ:TSLA), its largest holding.

Ark Invest shed 21,300 shares, estimated to be worth about $583,194, in PalantirTechnologies Inc(NYSE:PLTR), its first sale in the data analytics company in months. Shares of Palantir closed 2.66% higher at $27.38 on Monday.

Ark Invest holds shares of Palantir via ARKW and ARKK.

Some of the other key Ark buys on Monday included UiPath Inc(NYSE:PATH) and sells include Alphabet Inc(NASDAQ:GOOG) (NASDAQ:GOOGL).

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Comment9

  • Dragonroar
    ·2021-07-02
    Power up!
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  • Dankhoo
    ·2021-06-30
    Why.. 
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  • Bustylibra
    ·2021-06-29
    I wonder if cathie is trying to make investors sell palantir so that she can get in cheap #foodforthought
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  • NewbieLeo
    ·2021-06-29
    Their moves contradict each other at times. Also on trimming palantir, wondering if its because they deem its current price as too high (taking profit)
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    • Bustylibra
      They Only trim $500k+ . Not much of a profit In relative to their fund size
      2021-06-29
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  • YengLeng
    ·2021-06-29
    Ok
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  • OWYONG
    ·2021-06-29
    Go cathie wood
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    • OWYONG
      hahaha
      2021-06-29
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    • Toastz
      [Cool]
      2021-06-29
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  • ELONLEE
    ·2021-06-29
    PLTR PEWPEW
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    • Anneater
      Go
      2021-06-29
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  • Roychai
    ·2021-06-29
    Great
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    • MOON88
      Great move
      2021-06-30
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    • YengLeng
      Ok
      2021-06-29
      Reply
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  • SoarNRise
    ·2021-06-29
    Wow
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