Cathie Wood’s ARK Invest has eased off the Tesla (TSLA) trade for the fourth consecutive session, marking one of her most extended selling streaks in months. On Wednesday, ARK Innovation (ARKK) and ARK Next Gen Internet (ARKW) sold a combined 70,474 Tesla shares, worth roughly $30.35 million based on daily disclosures.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Earlier in the week, ARK offloaded far smaller amounts, selling just 789 shares on Tuesday and 5,426 on Monday. The selling began last Friday with more than 71,000 shares. Even after the cuts, Tesla remains ARK Innovation’s largest position at 11.96% and ARK Next Gen Internet’s biggest at 9.69%. Across all ARK funds, Tesla still sits at the top with a 9.94 percent weight.
The streak stands out because ARK typically buys Tesla on weakness. Wood has long tied Tesla’s long-term value to autonomous ride-hailing and leans heavily on a price target that envisions the stock reaching $2,600 by 2029. Her models assume as much as 90% of Tesla’s future enterprise value will come from a robotaxi network.
Insider Activity Adds Another Watch Point for Investors
Kimbal Musk also appeared in regulatory filings this week, gifting 14,785 shares on Nov. 10. The Tesla director frequently transacts around price peaks, and the move adds another layer of activity for investors already tracking ARK’s decisions.
Tesla’s next major catalyst remains tied to its robotaxi rollout in Austin. Elon Musk has said he expects the Model Y robotaxi fleet to remove safety monitors before the end of 2025. Whether regulators allow this transition will be a defining test of Tesla’s autonomy ambitions.
Stock Tests Key Support after a Rough Start to November
Tesla slipped 0.9% in early Thursday trading as shares hover near the 50-day moving average. The stock fell 2% on Wednesday to 430.60 and remains down 5.7% in November. Tesla continues to build a base that stretches back to late December with a technical buy point at 470.75. Shares briefly moved above this level on Nov. 3 but failed to hold it.
The valuation remains dominated by long-term bets on self-driving, Optimus humanoid robots, and AI systems. Musk reiterated his expectations earlier this month after shareholders approved his trillion-dollar compensation package.
Coming into Thursday’s session, Tesla was up 7% year-to-date and 30% over the past 12 months.
Is Tesla a Buy, Hold, or Sell?
Analyst sentiment on Tesla remains split. Based on 34 analyst ratings over the past three months, the stock sits at a Hold, with the group divided between 14 Buys, 10 Holds, and 10 Sells. This is one of the most polarized profiles among mega-cap tech names.
The average 12-month TSLA price target comes in at $382.54, implying an 8.66% downside from the recent price.
