Cathie Wood-led Ark Investment Management on Friday snapped up 12,763 shares, estimated to be worth about $7.65 million, in Tesla Inc (NASDAQ: (TSLA)) after over a two-week pause, during which time, shares of the electric vehicle company have advanced about 6.3%.
The New York-based investment deployed three of its traded funds to buy Tesla shares, namely: the Ark Innovation ETF (NYSE: ARKK), Ark Autonomous Technology & Robotics ETF ((BA)TS: ARKQ) and the Ark Next Generation Internet ETF (NYSE: ARKW).
All three ETFs – ARKK, ARKQ and ARKW- count Tesla as its largest holdings and together hold about 4.83 million shares, worth about $2.77 billion of the electric vehicle company. ARKK holds most of the shares, worth about $1.97 billion.
Ark Funds in March updated its price target on Tesla shares to $3,000 per share, to be reached by 2025.
Alphabet Class A shares closed 1.96% higher at $2,393.57 and Class C shares closed 1.96% higher at $2,451.7 on Friday. ARKF made a debut in Alphabet last week as it added the shares of the company to a portfolio of 43 other stocks.
Netflix shares closed 1.08% higher at $494.74 on Friday.
Some of the other key Ark Invest sells on Friday included Pluristem Therapeutics Inc (NASDAQ: PSTI) and buys included Teradyne Inc (NASDAQ: TER).
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Nasdaq (TSLA) – Tesla Motors, Inc. ((NASDAQ:(TSLA))), Google Inc. (NASDAQ:GOOGL) – Cathie Wood Loads Up $7.65M In Tesla, Also Adds Google, Trims Netflix
Tags: Nasdaq (TSLA), Tesla
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