Popular investor Cathie Wood’s ARK Invest made a series of trades on Tuesday, July 15, with major activity in electric vehicles and AI chips. According to daily trade disclosures, ARK’s biggest move was a $36.6 million buy in Tesla (TSLA). In addition, the firm’s ARKX fund made a small purchase of Nvidia (NVDA) shares. At the same time, Wood continued to offload shares of cryptocurrency exchange Coinbase (COIN) and streaming platform Roku (ROKU).
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Wood Loads Up on Tesla and Nvidia Stocks
As per the daily trade disclosures, ARK added a total of 115,380 Tesla shares across its ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW), amounting to a hefty $36.6 million investment. The buy shows Wood’s strong belief in Tesla, as demand for AI and self-driving tech keeps rising.
In a separate buy, the ARK Space Exploration & Innovation ETF (ARKX) bought 2,999 shares of Nvidia, worth $492,045. While small in size, this trade shows ARK’s continued interest in key players behind the AI boom and future tech systems.
Wall Street’s Take on Tesla and NVDA
Turning to Wall Street, Tesla stock scores a Hold consensus rating, with the average TSLA stock price target of $293.38 indicating a 5.60% possible decline from current levels. However, Nvidia carries a Strong Buy rating, with analysts’ average NVDA stock price target of $177.57 implying a possible 4.02% increase.
ARK Trims Stakes in Roku and Coinbase
On the sell side, ARK reduced its position in Coinbase, selling 34,207 shares for roughly $13.5 million from ARKW. This follows multiple recent COIN trims, as the firm continues to reduce its stake in crypto stocks amid market volatility.
ARK also sold 68,040 shares of Roku, generating $6.1 million across ARKK and ARKW ETFs. The move extends a recent series of Roku sell-offs, likely tied to concerns over rising costs and weaker ad trends.
Wall Street’s Take on ROKU and COIN
Turning to Wall Street, Coinbase stock carries a Moderate Buy rating, with analysts’ average COIN stock price target of $313.14 implying a possible 19.30% decline. Meanwhile, Roku shares also have a Moderate Buy rating, but with an average ROKU stock price target of $95.18 that points to a potential upside of 6.61%.
