Cathie Wood’s ARK Sells over $7M Worth of META Stock but Adds GitLab and Tempus AI
Cathie Wood’s ARK ETFs made some significant trades on Tuesday, including selling of Meta Platforms’ (META) stock, while boosting its investments in GitLab (GTLB) and Tempus AI (TEM). Cathie Wood’s trades often signal market sentiment, influencing stock momentum and attracting investor interest.
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Wood Offloads META Stock
The highlight of the day was ARK Innovation Fund (ARKK), which sold 12,595 shares of Meta stock worth about $7.62 million. This suggests ARK is reducing its stake in the social media giant as analysts and investors grow cautious while increasing investments in AI. Notably, Meta plans to spend up to $65 billion on AI in 2025.
Moreover, on Tuesday, META stock dropped 4%, bringing its 2025 decline to 0.45% and wiping out its year-to-date gains. Interestingly, it is now the last of the Magnificent 7 tech stocks to slip into negative territory this year.
Wood Ramps Up AI Bet with GitLab & Tempus AI Stocks
On the purchasing side, Wood continues to bet high on AI investment by buying more of GTLB and TEM stocks.
Wood’s ARK made its largest investment of Tuesday in Tempus AI, acquiring 171,176 shares for approximately $8.54 million. This highlights ARK’s increasing focus on Tempus AI, a healthcare technology firm using AI to tailor patient treatments.
Additionally, ARKK and ARK Next Generation Internet ETF (ARKW) made another significant purchase by acquiring 46,205 shares of GTLB, investing a total of $2.4 million. This reinforces Wood’s ongoing investment in the AI-powered DevOps platform provider, reflecting growing confidence in its expansion potential and long-term growth.
Among other trades, ARK offloaded 509,799 shares in UiPath Inc. (PATH), a leading robotic process automation company, for $5.49 million. This move continues ARK’s ongoing reduction of its UiPath stake, following last week’s sales. Overall, Wall Street analysts also maintain a neutral stance on PATH stock with a Hold rating due to macroeconomic concerns affecting product demand.
Which ARK Investment Stock has Wall Street’s Strong Buy Stamp?
According to TipRanks’ Stock Comparison Tool, Wall Street has a Strong Buy rating on META and GTLB stocks. Among these GTLB stock offers the highest upside potential of 58% from current levels.
Meanwhile, TEM stock has a Moderate Buy consensus among analysts but has a Very Positive investor sentiment.