Cathie Wood's Ark Invest Continues To Offload Coinbase, Bets Big On SoFi Technologies
On Friday, Cathie Wood-led Ark Invest made notable trades, including the sale of shares in Coinbase Global Inc. (NASDAQ:COIN) and Roblox Corp. (NYSE:RBLX).
Other trades include SoFi Technologies Inc. (NASDAQ:SOFI), Tesla Inc. (NASDAQ:TSLA), Twist Bioscience Corp. (NASDAQ:TWST), Kratos Defense and Security Solutions Inc. (NASDAQ:KTOS), Beam Therapeutics Inc. (NASDAQ:BEAM) and Elbit Systems Ltd. (NASDAQ:ESLT).
The SoFi Trade: Ark Invest purchased a significant number of SoFi shares. The ARK Fintech Innovation ETF (BATS:ARKF) bought 344,088 shares, and the ARK Innovation ETF (BATS:ARKK) acquired 1,978,022 shares. This move aligns with Ark’s continued interest in high-growth technology and financial sectors, as seen in their recent trades.
The value of the SoFi trade, calculated based on the latest closing price, is approximately $39.89 million.
The COIN Trade: Ark Invest sold a significant number of Coinbase shares. ARKF sold 16,707 shares, and ARKK sold 96,022 shares. This move comes amid significant developments for Coinbase, with the company receiving a price target boost.
The value of the Coinbase trade, calculated based on the latest closing price, is approximately $39.84 million.
The TSLA Trade: Ark Invest also made a significant purchase of Tesla shares. ARKF bought 41,992 shares of the electric vehicle company.
The value of the Tesla trade, calculated based on the latest closing price, is approximately $13.6 million.
The RBLX Trade: Ark Invest also sold a significant number of Roblox shares. ARKK sold 129,061 shares of the online gaming platform.
The value of the Roblox trade, calculated based on the latest closing price, is approximately $13.63 million.
Other Key Trades:
- ARKK bought 46,668 shares of Twist Bioscience Corp.
- ARKK bought 25,337 shares of Kratos Defense and Security Solutions Inc.
- Ark Invest bought 40,230 shares of Beam Therapeutics Inc.
- Ark Invest sold 1,454 shares of Elbit Systems Ltd from the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and 295 shares from the ARK Space Exploration & Innovation ETF (BATS:ARKX).
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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