Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

Cathie Wood-led Ark Investment Management on Wednesday snapped up millions of shares of the New York-based software automation companyUiPath IncNYSEPATH

The investment firm deployed all its six active ETFs to buy the 2.74 million shares estimated to be worth $188.98 million as of UiPath’s Wednesday close of $69.

Trades were made by the Ark Innovation ETF ARKK 2.38%, Autonomous Technology & Robotics (BATS:ARKQ), Next Generation Internet ETF ARKW 1.74%, Fintech InnovationETF ARKF 1.36%, Genomic Revolution ETF (BATS:ARKG) and the Space Exploration & Innovation ETF (BATS:ARKX).

ARKF bought 238,407 shares, ARKG bought 540,806 shares, ARKK bought 1,348,999 shares, ARKQ bought 187,267 shares, ARKW bought 384,976 shares, and ARKX bought 38,475 shares; all representing about 0.38% of the respective ETFs.

The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes. PATH closed 5.34% higher on Wednesday, giving the company a market valuation of $35.8 billion.

Wood’s firm, which counts Tesla as its largest holding and had recently updated thestock’s target price to $3,000

ARKK sold Tesla shares representing 0.497% of the ETF. Tesla continues to be Ark’s top holdings.

The new York-based investment firm also sold 307,575 shares ofSquare IncSQ 0.05%, estimated to be worth about $75.4 million. Square is among Ark’s top three holdings.

ARKK sold 170,764 shares representing 0.175% of the ETF and ARKW sold 136,811 shares representing 0.49% of the ETF.

The investment firm also sold 83,881 shares of the software companyXilinx IncXLNX 2.69%slated to be acquired by chipmakerAdvanced Micro Devices IncAMD 2.95%. ARKQ and ARKX bought shares estimated to be worth about $10.6 million as of the stock’s Wednesday closing price of $126.95.

It also snapped up more shares of the exercise bike makerPeloton Interactive IncPTON 6.17%buying 152,289 shares via ARKW and estimated to be worth about $15.2 million as of the stock’s Wednesday close.

Peloton shares closed 6.17% lower at $99.93 on Wednesday.

The investment firm bought a total of 58,881 shares of the online streaming websiteNetflix IncNFLX 7.4%via ARK and ARKX ETFs. Netflix stock closed 7.40% lower at $508.90 on Wednesday. It has a 52-week high of $593.29 and low of $393.60.

The investment firm sold 119,279 shares of the online payment company, representing about 0.46% of the ARKW ETF.

PayPal shares closed 0.17% higher at $264.89 on Wednesday. It has a 52-week high of $309.14 and low of $107.41.

Other Ark Buys On Wednesday:

• Recursion PharmaceuticalsRXRX 8.72%
• Ionis PharmaceuticalsIONS 0.8%
• 908 DevicesMASS 0.12%
• SkillzSKLZ 34.18%
• Iridium CommunicationsIRDM 4.93%
• DraftKingsDKNG 5.51%
• Coinbase GlobalCOIN 2.77%
• Berkeley LightsBLI 2.69%
• Beam TherapeuticsBEAM 4.43%
• Jaws Spitfire AcquisitionSPFR 0.69%
• Niu TechnologiesNIU 4.8%
• 3D SystemsDDD 12%
• TencentTCEHY 1.51%
• PinduoduoPDD 2.44%
• Reinvent Technology PartnersRTP 0.7%

Other Ark Sells On Wednesday:

• IntuitINTU 0.88%
• NvidiaNVDA 1.25%
• LendingTreeTREE 0.85%
• WorkdayWDAY 0.68%
• Thermo FIsher ScientificTMO 0.39%
• SyrosPharmaceuticalsSYRS 0.82%
• NovartisNVS 0.97%
• RocheRHHBY 2.78%
• RegeneronPharmaceuticalsREGN 0.41%
• PhreesiaPHR 3.92%
• TwitterTWTR 2.53%
• TeslaTSLA 3.5%
• Synopsys(SNPS)
• RokuROKU 0.5%
• PACCARPCAR 1.66%
• Pure StoragePSTG 2.22%
• HubSpotHUBS 1.74%
• DocuSignDOCU 0.03%
• Intercontinental ExchangeICE 0.11%

Photo Courtesy of Uipath