Tesla Motors, Inc. (NASDAQ:TSLA), Snap Inc. (NYSE:SNAP) – Cathie Wood continues to make profits with Tesla, selling an additional $28 million on Friday

Cathy Woodit is Ark Investment Management Friday sold more shares in Tesla Inc. (NASDAQ: TSLA), continuing the months-long earnings booking spree at the electric vehicle company.

The popular fund management firm sold 26,599 shares – estimated at $27.9 million – of Austin, Texas-headquartered Tesla.

Shares of Tesla closed up 1.75% at $1,049.6 per share on Friday. The stock is up about 24.3% over the past year.

Ark Invest owns shares of Tesla through three of its exchange-traded funds – the Ark Innovation ETF (NYSE: ARKK), the Ark Autonomous and Robotics Technology ETF (BATS: ARKQ) and the Ark Next Generation Internet ETF (NYSE:ARKW).

The three ETFs held about 1.48 million shares worth $1.53 billion in Tesla, prior to Friday’s transaction.

Tesla ended 2021 on a high by posting its highest quarterly and annual shipment volume.

See also: Cathie Wood makes her first purchase from an EV maker in 2022 – and it’s not Tesla

Wood, who founded Ark Invest, is a Tesla bull and has set a price target of $3,000 for the electric vehicle stock for 2025. The investment firm has been selling shares of Tesla since September after shares rose to cross the $1 trillion market cap.

St. Petersburg, Fla.-based Ark also recently loaded shares of the U.S.-listed Chinese electric vehicle maker. Xpeng Inc. (NYSE: XPEV).

Ark also sold 48,925 shares – estimated at $1.85 million – in Snap inc. (NYSE: SNAP) Friday. Shares of the company last closed down 0.89% at $38.04 per share.

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