Cathie Wood’s Ark Continues to Profit in Tesla, Selling Another $39 Million in Stock

Cathy Woodinvestment management company led by Ark Invest Thursday sold 35,730 shares – estimated at $39.17 million – in Tesla Inc. TSLAmaking more profits in the electric vehicle stock which recently topped the $1 trillion market cap club and continues to be its biggest exposure.

Shares of Tesla, which have risen about 50.24% so far this year, closed up 0.68% at $1,096.38 per share on Thursday.

Ark Invest last sold shares of Tesla about two weeks ago and has been posting share profits since early September, when the company’s shares began a bull run.

Including the latest sale, the New York-based fund management firm has sold about $1.8 billion worth of Tesla stock since early September.

See also: Cathie Wood sells another $94 million in Tesla and buys those shares instead

Despite the latest selling, Tesla remains Ark Invest’s biggest bet on ETFs – a stock it predicts will hit the $3,000 mark by the end of 2025.

Ark Invest sold Tesla shares through the Ark Innovation ETF ARKK and the Ark Next Generation Internet ETFs ARKW Thursday. the Ark Autonomous and Robotics Technology ETF ARKQ also owns shares of Tesla.

Prior to Thursday’s transaction, the three ETFs together held a total of 3.82 million shares – worth $4.19 billion – in the electric vehicle company.

Here are some other key trades for Ark on Thursday:

  • Sold 252,816 shares – estimated at $50.8 million – in Unity Software Inc. you.
  • Purchased 46,455 shares — valued at $744,209 — in Burning Rock Biotechnology ltd BNR. Shares closed down 0.87% at $16.02 per share on Thursday.
  • Purchased 752,495 shares — valued at $8.05 million — in Skillz Inc. SKLZ. Shares closed down 1.65% at $10.70 per share.

Photo: Courtesy of Tesla