Cathie Wood's Ark Invest Buys $22 Million in Tesla Stock as Elon Musk Exercises $110.55 Billion in Options, Dumps Roku Shares amid Fox Buzz

Benzinga06-19 15:30

Ark Invest, led by Cathie Wood, made significant trades on Thursday, focusing on Tesla, Snowflake, and Roku.

The Tesla Trade

Ark Invest made a notable purchase of Tesla shares. Through the ARK Innovation ETF and ARK Next Generation Internet ETF, Ark acquired a total of 54,815 shares. With Tesla’s closing price at $400.49, this transaction is valued at approximately $22 million.

This move comes amid news of Tesla’s CEO, Elon Musk, exercising stock options worth $110.55 billion, as reported in a recent SEC filing. The stock closed up by 1.04% on Thursday.

The Snowflake Trade

The ARKK and ARKW ETFs purchased a total of 223,690 Snowflake shares, valued at approximately $52 million, based on Snowflake’s closing price of $232.29.

Snowflake reported first-quarter fiscal 2027 results that exceeded expectations, with revenue rising 33% year-over-year to $1.39 billion and adjusted earnings of 39 cents per share. Product revenue increased 34% to $1.33 billion, while remaining performance obligations grew 38% to $9.21 billion, reflecting continued demand for the company’s AI-focused data cloud platform.

The company forecast second-quarter product revenue of $1.415 billion-$1.42 billion in late May, representing roughly 30% year-over-year growth. Snowflake also announced a new multi-year collaboration with Amazon Web Services that includes a $6 billion infrastructure commitment and agreed to acquire AI platform Natoma to strengthen enterprise AI integration and management capabilities.

The Roku Trade

Ark sold a total of 721,279 Roku shares through the ARK Blockchain & Fintech Innovation ETF,  ARKK, and ARKW ETFs. With Roku’s shares closing at $138.07, the sale is valued at approximately $99.6 million.

This decision follows Fox’s recent acquisition of Roku, aiming to enhance its streaming capabilities. Roku’s stock saw a modest increase of 0.57% on the day of the trade.

Earlier in the week, Wood sold $93.7 million worth of Roku stock as the Fox acquisition unraveled. On Wednesday, Ark dumped another 239,267 shares.

Other Key Trades

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Comments

  • breAkdaWn
    06-21 07:29
    breAkdaWn
    Well done woods! Sell the hype buy the lows. CW 1: retail 0
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