Ark Investment Management, led by Cathie Wood, snapped up millions of shares of the software automation company in New York on Wednesday UiPath Inc. (NYSE: PATH) on the day he made his trading debut.
The investment firm has used all six of its active ETFs to buy the 2.74 million shares valued at an estimated $ 188.98 million from UiPath’s Wednesday end of $ 69.
Trades 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 Exploration 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 38,475 shares; all represent about 0.38% of the respective ETFs.
The products of the software company in Bucharest, Romania, are used by organizations to help automate their various business processes efficiently. PATH closed 5.34% higher on Wednesday, giving the company a market value of $ 35.8 billion.
See also: Cathie Wood loading on DraftKings, Coinbase, Palantir, Sells Nvidia, Square
Wood’s firm, which considers Tesla to be its largest shareholder and recently updated its share price to $ 3,000, sold 163,981 shares worth an estimated $ 122 million, based on the closing of the electric vehicle’s Wednesday from $ 744.12.
ARKK sold Tesla shares representing 0.497% of the ETF. Tesla is still Ark’s top interest.
See also: Cathie Wood decorates the Tesla stake and uploads it a lot on Coinbase
The New York investment firm also sold 307,575 shares Square Inc. (NYSE: SQ), estimated at about $ 75.4 million. Square is one of Ark’s top three businesses.
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 company Xilinx Ing (NASDAQ: XLNX) is expected to be acquired by disc maker Advanced Micro Devices Inc. (NASDAQ: AMD). ARKQ and ARKX bought shares worth an estimated $ 10.6 million from the $ 126.95 share price on Wednesday.
It also took up more shares of the exercise bike manufacturer Peloton Interactive Inc. (NASDAQ: PTON) buys 152,289 shares through ARKW and is estimated to be worth about $ 15.2 million since the stock closed Wednesday.
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 site Netflix Ing (NASDAQ: NFLX) 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 a minimum of $ 393.60.
The investment firm sold 119,279 shares of the online payment firm, representing approximately 0.46% of the ARKW ETF.
See also: How Netflix is preparing to tackle the ‘lighter content slate’ that is affecting Q1 growth
PayPal shares closed 0.17% higher at $ 264.89 on Wednesday. It has a 52-week high of $ 309.14 and a minimum of $ 107.41.
Other Ark Buys Wednesday:
- Recursion Pharmaceutical Products (NASDAQ: RXRX)
- Ionis Pharmaceuticals (NASDAQ: IONS)
- 908 devices (NASDAQ: MASS)
- Skillz (NYSE: SKLZ)
- Iridium Communication (NASDAQ: IRDM)
- DraftKings (NASDAQ: DKNG)
- Coinbase Global (NASDAQ: COIN)
- Berkeley Lights (NASDAQ: BLI)
- Beam Therapeutics (NASDAQ: BEAM)
- Jaws Spitfire Acquisition (NYSE: SPFR)
- Niu Technologies (NASDAQ: NIU)
- 3D systems (NYSE: DDD)
- Tencent (OTC: TCEHY)
- Pinduoduo (NASDAQ: PDD)
- Rediscover technology partners (NYSE: RTP)
Other sheet sales Wednesday:
- Intuitive (NASDAQ: INTU)
- Nvidia (NASDAQ: NVDA)
- Lending tree (NASDAQ: BOOM)
- Working day (NASDAQ: WDAY)
- Thermo FIsher Scientific (NYSE: TMO)
- Syros Pharmaceutical products (NASDAQ: SYRS)
- Novartis (NYSE: NVS)
- Roche (OTC: RHHBY)
- Regeneron Pharmaceutical products (NASDAQ: RAIN)
- Phreesia (NYSE: PHR)
- Twitter (NYSE: TWTR)
- Tesla (NASDAQ: TSLA)
- Synopsys (SNPS)
- Roku (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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