Cathie Wood Loads Up Further On Netflix, Coinbase; Trims Palantir – Converted Organics (COIN), NetFlix (NFLX)

Cathie Wood-led Ark Investment Management on Monday deployed the Ark Space Exploration & Innovation ETF (BATS:ARKX) to buy 3,007 shares, estimated to be worth about $1.6 million, in the video streaming company Netflix Inc (NASDAQ:NFLX).

Shares of Netflix closed 1.13% higher at $533.03 on Monday. 

As of Monday’s trade, the popular investment firm held 110,187 shares, worth about $58.7 million in Netflix via the ARK Next Generation Internet ETF (NYSE:ARKW) and ARKX.

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Ark also piled on Coinbase Global Inc (NASDAQ:COIN) on the day. The cryptocurrency exchange’s stock soared after a filing revealed Ark Invest has applied for a Bitcoin exchange-traded fund.

Coinbase shares closed 9.86% higher at $246.69 on Monday.

Ark deployed the Ark Fintech Innovation ETF (NYSE:ARKF) to buy 82,414 shares, estimated to be worth about $20.33 million, in Coinbase. The investment firm also holds the shares of the cryptocurrency exchange via ARKW and the Ark Innovation ETF (NYSE:ARKK).

Ark’s stake in COIN is currently valued at $1.25 billion with about 5.08 million shares. In comparison, Ark Invest holds about 4.99 million shares, worth about $3.44 billion, in Tesla Inc (NASDAQ:TSLA), its largest holding.

Ark Invest shed 21,300 shares, estimated to be worth about $583,194, in Palantir Technologies Inc (NYSE:PLTR), its first sale in the data analytics company in months. Shares of Palantir closed 2.66% higher at $27.38 on Monday.

Ark Invest holds shares of Palantir via ARKW and ARKK.

Some of the other key Ark buys on Monday included UiPath Inc (NYSE:PATH) and sells include Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).