Cathie Wood–led ARK Invest made a fresh round of portfolio moves on Thursday, December 18, cutting exposure to the electric vehicle giant Tesla Inc. (TSLA) stock, while adding to several crypto-related bets, including Coinbase (COIN) and Brera Holdings (SLMT).
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Wood sold 23,110 shares of Tesla through its flagship ARK Innovation ETF (ARKK) for roughly $11.2 million. The move came as Tesla shares pulled back after touching record highs earlier in the week.
Tesla stock has been volatile, with investors closely tracking progress in autonomous driving alongside broader valuation concerns following the recent rally. Even so, Tesla shares still finished Thursday up 3.45%, closing at $483.37, highlighting continued investor interest even as ARK locked in some gains.
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $383.83 per share implies 20.59% downside risk.
ARK Adds to Coinbase and Brera Holdings
At the same time, ARK increased its exposure to Coinbase Global, buying a combined 17,386 shares across the ARK Blockchain & Fintech Innovation ETF (ARKF), ARK Next Generation Internet ETF (ARKW), and ARKK for about $4.15 million.
The move followed Coinbase’s plan to launch commission-free U.S. stock trading with longer hours, as the company works to offer both crypto and traditional stocks on one platform.
ARK also added to Brera Holdings, purchasing 575,644 shares across ARKW, ARKF, and ARKK, valued at roughly $1.4 million. Brera has drawn attention for its Solana-based treasury strategy, which previously sparked a strong rally in the stock. On Thursday, Brera shares rose 0.84%, closing at $2.39.
Beyond these, ARK also bought 755,538 shares of Recursion Pharmaceuticals (RXRX) across ARKG and ARKK.
Let’s see how these stocks perform using the TipRanks Stock Comparison Tool:
