On Monday, after Tesla announcing the Deliveries Report above all expectations, the Firm sold 39,262 shares on Monday, worth about $45 million. Two days later, on Wednesday, ETFs sold another 19,212 Tesla shares ($20.9 Million). And now, Cathie Wood’s Ark Investment Management booked on Thursday more profit, selling 4,620 shares — estimated to be worth $4.9 million. Worth to remember that Wood’s a Tesla bull and has set a $3,000 price target for the electric vehicle stock by 2025.
Ark Invest owns shares in Tesla divided in three of its exchange-traded funds — the Ark Innovation ETF (NYSE:ARKK), the Ark Autonomous Technology & Robotics ETF (NYSE:ARKQ) and the Ark Next Generation Internet ETF (NYSE:ARKW). These three ETFs held about 1.61 million shares worth $1.75 billion in Tesla, before Thursday’s sell.
On Thursday, the exchanged-traded fund was down more than 48% from its February 2021 all-time intraday high. The drop is worse than the one in March of 2020 during the low of the pandemic market rout.
Tesla announced on Monday that delivered 308,600 vehicles in Q4, setting a new quarterly record . In 2021, Tesla delivered a total of 936,172 vehicles in 2021, crushing all the expectations. The electric vehicle maker’s shares had advanced about 50% in 2021 and are down 11.3% for the year so far.
Tesla recently announced Q4 During Q4 2020, the company delivered about 181,000 vehicles and Wall Street was looking for about 176,000 vehicles to be delivered at the time of the release. The result was about a 3% beat versus expectations. This quarter, Wall Street expectations were on 275,000 units, which means Tesla beat by more than 12%.
The St. Petersburg, Florida-based Ark has also been recently loading up shares in t Chinese EV maker Xpeng.
So far in 2022, Ark bought up shares of Palantir, the analytics company founded by Peter Thiel. In total, Ark purchased 442,456 shares, worth about $8.2 million, based on Monday’s opening price. This Thursday, 430,339 shares were aded to($7.2 million) in Palantir Technologies, an old love for Ark.
ARK Estimated Cost Average on $PLTR is between $23 and $24 – the stock closed 1.3% lower at $16.74 a share on Thursday.