Ark Investment Management, led by Cathie Wood, took ownership of millions of shares of the New York-based software automation company on Wednesday UiPath Inc. (NYSE: PATH) on the day it made its trading debut.
The investment company used all of its six active ETFs to purchase the 2.74 million shares estimated to be worth $ 188.98 million as of Wednesday’s $ 69 close of UiPath.
Transactions were made by the Ark Innovation ETF (NYSE: ARKK), Autonomous technology and robotics (BATS: ARKQ), Next Generation Internet ETF (NYSE: ARKW), Fintech innovation ETF (NYSE: ARKF), Genomic Revolution ETF (BATS: ARKG) and the Space Research and 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 of which represent approximately 0.38% of the respective ETFs.
The products of the software company based in Bucharest, Romania are used by organizations to efficiently automate their various business processes. PATH closed 5.34% higher on Wednesday, giving the company a market valuation of $ 35.8 billion.
See Also: Cathie Wood Loads on DraftKings, Coinbase, Palantir, Sells Nvidia, Square
Wood’s company, which counts Tesla as its largest holding and had recently updated its share price target price to $ 3,000, sold 163,981 shares with an estimated value of $ 122 million based on the manufacturer’s Wednesday close of $ 744.12 of electric vehicles.
ARKK has sold Tesla shares representing 0.497% of the ETF. Tesla remains Ark’s most important assets.
Related: Cathie Wood Trims Tesla Stakes and Loads Heavy on Coinbase
The New York-based investment company also sold 307,575 shares of it Square Inc. (NYSE: SQ), which is estimated to be worth approximately $ 75.4 million. Square is one of Ark’s three largest 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 company also sold 83,881 shares of the software company Xilinx Inc. (NASDAQ: XLNX) slated to be acquired by chipmaker Advanced Micro Devices Inc. (NASDAQ: AMD). ARKQ and ARKX bought shares with an estimated value of approximately $ 10.6 million from Wednesday’s closing price of $ 126.95.
It also bought more shares from the exercise bike manufacturer Platoon Interactive Inc. (NASDAQ: PTON) is buying 152,289 shares through ARKW and is estimated to be worth approximately $ 15.2 million as of the stock’s close on Wednesday.
Peloton shares closed 6.17% lower on Wednesday at $ 99.93.
The investment firm bought a total of 58,881 shares from the online streaming website Netflix Inc. (NASDAQ: NFLX) via ARK and ARKX ETFs. The Netflix stock closed 7.40% lower on Wednesday at $ 508.90. It has a 52-week high of $ 593.29 and a low of $ 393.60.
The investment firm has sold 119,279 shares of the online payments company, representing approximately 0.46% of the ARKW ETF.
Related: How Netflix Is Preparing To Fight The ‘Lighter Content Slate’ That Affected First Quarter Growth
PayPal shares closed 0.17% higher on Wednesday at $ 264.89. It has a 52-week high of $ 309.14 and a low of $ 107.41.
Other Ark buys on Wednesday:
- Recursion Pharmaceuticals (NASDAQ: RXRX)
- Ionis Pharmaceuticals (NASDAQ: IONS)
- 908 devices (NASDAQ: MASS)
- Skillz (NYSE: SKLZ)
- Iridium Communications (NASDAQ: IRDM)
- DraftKings (NASDAQ: DKNG)
- Coinbase Global (NASDAQ: COIN)
- Berkeley Lights (NASDAQ: BLI)
- Beam Therapeutics (NASDAQ: BEAM)
- Acquisition of Jaws Spitfire (NYSE: SPFR)
- Niu Technologies (NASDAQ: NIU)
- 3D systems (NYSE: DDD)
- Tencent (OTC: TCEHY)
- Pinduoduo (NASDAQ: PDD)
- Reinventing Technology Partners (NYSE: RTP)
Other Ark sells on Wednesday:
- Intuit (NASDAQ: INTU)
- Nvidia (NASDAQ: NVDA)
- LendingTree (NASDAQ: BOOM)
- Business day (NASDAQ: WDAY)
- Thermo FIsher Scientific (NYSE: TMO)
- Syros Pharmaceuticals (NASDAQ: SYRS)
- Novartis (NYSE: NVS)
- Roche (OTC: RHHBY)
- Regeneron Pharmaceuticals (NASDAQ: REGN)
- Phreesia (NYSE: PHR)
- Twitter (NYSE: TWTR)
- Tesla (NASDAQ: TSLA)
- Synopsys (SNPS)
- Year (NASDAQ: ROKU)
- PACCAR (NASDAQ: PCAR)
- Pure storage (NYSE: PSTG)
- HubSpot (NYSE: HUBS)
- DocuSign (NASDAQ: DOCU)
- Intercontinental exchange (NYSE: ICE)
Photo courtesy of Uipath
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