Cathie Wood-led Ark Investment Management on Tuesday sold the remaining shares that it held in Netflix Inc (NASDAQ:NFLX) to fully cut its exposure in the streaming video-on-demand company.
The popular investment management firm sold the balance 103 shares — estimated to be worth $47,084 — in Netflix on the day shares of the company closed 7% higher at $457.13 a share.
Netflix stock is down 23.5% year-to-date; shares plummeted earlier this month after fourth quarter results missed subscriber growth expectations slightly, and the company guided to much lower growth in the first quarter.
See Also: Cathie Wood Nearly Exits Netflix Stake, Also Sells $4M Shares In Rival Disney
Citigroup on Monday upgraded the stock to Buy and company filings showed Co-CEO Reed Hastings bought more than 50,000 Netflix shares worth about $20 million. The purchase followsPershing Square's Bill Ackman revealingthat he bought more than 3.1 million shares of the streaming giant, making Pershing Square a top-20 shareholder in the company.
See Also: Why Netflix Shares Are Rising Today
Here are some other key Ark Invest trades on Tuesday:
- Bought 66,500 shares— estimated to be worth $974,225 — in Robinhood Markets Inc (NASDAQ:HOOD). Shares of the crypto-linked company closed 3.5% higher at $14.65 a share on Tuesday.
- Bought 46,916 shares— estimated to be worth $5.98 million — in Block Inc (NYSE:SQ). The stock closed 4.35% higher at $127.6 a share.
- Sold 149,609 shares— estimated to be worth $2.12 million — in Palantir Technologies Inc (NYSE:PLTR), on the day shares closed 3.6% higher at $14.2 a share.
FAQs
Most media outlets report that her net worth in 2024 is around $250 million to $300 million. In June 2022, Forbes estimated Wood to be worth $140 million, down from a high of $400 million in 2021. Cathie Wood is best known for investing thematically in disruptively innovative tech companies via her suite of ARK ETFs.
How much will Cathie Wood predict for Bitcoin? ›
At the recent Hong Kong Web3 Festival, Cathie Wood, the CEO of Ark Invest, made a striking prediction that Bitcoin could escalate to $1.5 million by 2030. Wood shared her insights alongside DC, head of HashKey Singapore and CEO of HashKey Capital.
How much does Cathie Wood have in Ark? ›
In early 2021, Ark Invest, led by tech investor Cathie Wood, managed a staggering $59 billion across six funds, making it the world's largest active ETF manager. Three years later, a significant 80% downturn occurred, with assets under management in those funds plummeting to just $11.1 billion.
Why did Cathie Wood start ark? ›
After various experiences in asset management, at Capital Group and AllianceBernstein, Cathie Wood co-founded ARK Invest in 2014, with the idea of combining active stock picking within a low-cost and easily tradeable instrument such as exchange-traded funds.
Who runs the Ark fund? ›
ARK Investment Management LLC is an American investment management firm based in St. Petersburg, Florida, that manages several actively managed exchange-traded funds (ETFs). It was founded by Cathie Wood in 2014. At the height of February 2021, the company had US$50 billion in assets under management.
How much Cathie Wood invested in Tesla? ›
Ark Invest purchased a total of 122,752 shares of Tesla across its ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Next Generation Internet ETF (NYSE:ARKW). The Ark trade was valued at $17.44 million.
What will $1000 of Bitcoin be worth in 2030? ›
If Bitcoin continues this pattern into 2030, the price could peak around 2029 or 2030. If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030. This would result in a compounded annual growth rate (CAGR) of nearly 95%.
What will Bitcoin be worth in 10 years? ›
Bitcoin Overview
| Year | Minimum Price | Average Price |
|---|
| 2028 | $359,657.03 | $369,638.03 |
| 2029 | $517,096.29 | $531,882.81 |
| 2030 | $746,322.36 | $772,916.70 |
| 2031 | $1,103,061.68 | $1,133,978.59 |
8 more rowsXRP Prediction Table
| Year | Minimum Price | Maximum Price |
|---|
| 2030 | $5.36 | $6.31 |
| 2031 | $8.27 | $9.50 |
| 2032 | $11.48 | $14.33 |
| 2033 | $16.26 | $19.93 |
8 more rowsCathie Wood graduated with honors from the University of Southern California with a degree in Economics and Finance. During her time at this university she met her mentor, Arthur Laffer, a prestigious economist of the time who was an advisor during Ronald Reagan's administration.
The average price target is $62.10 with a high forecast of $84.56 and a low forecast of $35.70. The average price target represents a 42.26% change from the last price of $43.65.
What stocks do Cathie Wood own? ›
Wood has 37% of her Ark Invest portfolio invested in these seven stocks.
- Coinbase Global. Wood's top holding right now is Coinbase Global (COIN -6.56%). ...
- Tesla. It's probably not surprising that Tesla (TSLA -2.03%) ranks high among Wood's holdings. ...
- Roku. ...
- UiPath. ...
- Block. ...
- CRISPR Therapeutics. ...
- Zoom Video Communications.
On the contrary, among providers of mutual funds and exchange-traded funds, her ARK Investment Management topped the chart in wealth destruction. Its family of ETFs, which managed around $16 billion as of 2023, wiped out $14.3 billion in shareholder value in the past decade, according to Morningstar Inc. estimates.
How did Cathie Wood get rich? ›
Cathie Wood is co-founder, CEO, and CIO of ARK Investment Management, also known as ARK Invest. ARK Invest was founded in 2014 and has had enormous success in exchange-traded funds, or ETFs, due mainly to Wood's ability to pick the right stocks.
Did Cathie Wood buy Amazon stock? ›
Tech giant Amazon (NASDAQ:AMZN) is a part of both Cathie Wood and Warren Buffet's investment portfolio. She first purchased the stock in 2016 and has made several trades since then. Currently Cathie Wood holds $9.46 million worth of stock which forms a decent 0.06% of her portfolio.
How did Cathie Wood's get rich? ›
Cathie Wood is co-founder, CEO, and CIO of ARK Investment Management, also known as ARK Invest. ARK Invest was founded in 2014 and has had enormous success in exchange-traded funds, or ETFs, due mainly to Wood's ability to pick the right stocks.
What is the annual return of Cathie Woods? ›
The Cathie Wood Ark Tech Portfolio is a Very High Risk portfolio and can be implemented with 4 ETFs. It's exposed for 100% on the Stock Market. In the last 5 Years, the Cathie Wood Ark Tech Portfolio obtained a 6.58% compound annual return, with a 38.01% standard deviation.
Did Cathie Wood buy Bitcoin? ›
Cathie Wood's Ark Investment Management LLC is snapping up shares of the firm's just-launched spot-Bitcoin ETF as competition among the inaugural issuers escalates.
Is Cathie Wood invested in Bitcoin? ›
Wood, whose Ark Invest recently became one of the issuers of a spot bitcoin exchange-traded fund (ETF), ARKB, said the asset manager is focused on emerging markets and the macro environment worldwide, which has been “shocked” by the U.S. Federal Reserve's increase in interest rates, she said during a fireside chat at ...
