Popular investor Cathie Wood’s ARK Invest made key portfolio moves on Friday, July 18, with the spotlight on a major buy in the industrial automation space. As per ARK’s daily trade disclosures, the largest transaction of the day was $3 million-plus purchase in Teradyne (TER). At the same time, Wood offloaded shares of technology stock Meta Platforms (META).
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Wood Continues to Load Up on Teradyne Stock
On Friday, ARK bought 39,792 shares of Teradyne, valued at $3.74 million. The buy was made through its flagship ARK Innovation ETF (ARKK). The transaction follows a sizable TER purchase on July 17 —84,000 shares for a total of $7.8 million.
Teradyne is a major name in industrial automation and testing, a sector where Wood has been steadily building exposure amid rising interest in AI and robotics. With TER stock being down 25% year-to-date, Wood seems to be taking advantage of the pullback as a buying opportunity.
What Is the Teradyne Stock Price Forecast for 2025?
On TipRanks, Teradyne stock has a Moderate Buy consensus rating based on nine Buys, two Holds, and three Sell ratings. Also, the average TER price target of $97.15 implies a 3.44% upside potential from current levels.
ARK Trims Stake in Meta Stock
On the sell side, ARK continued to reduce its stake in Meta, offloading $1.5 million worth of shares through ARKK. This suggests ARK is reducing its stake in the social media giant. Year-to-date, META stock is up 20.5%.
Additionally, ARK sold a small stake in Guardant Health (GH), trimming $141.6K worth of shares from its biotech-focused funds.
Is Meta a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 41 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $743.69 per share implies 5.6% upside potential.
