Cathie Wood's Ark Invest had a busy Tuesday.
The investment firm that has always focused on"disruptive innovation" picked up more shares of several companies across the tech sector; Ark also sold shares of Shopify and its favorite tech giant, Tesla.
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Ark Invest picked up a total of 243,411 shares of PagerDuty -- a cloud computing company that specialises in incident response for IT sectors -- spread across two of Ark's ETFs. The Ark Innovation ETF picked up 209,498 shares of the company at around $4.5 million. The Ark Next Generation Internet ETF picked up 33,913 shares of the company at a little more than $700,000.
After bringing its annual revenue guidance range to $425 to $430 million, down from its previous forecast of $446 to $452 million June 2, shares of (PD) tumbled more than 16% to around $23, a level the company has since maintained. PagerDuty closed at $22.07 June 21.
Still, Morgan Stanley kept PagerDuty has a buy on June 2, giving it a price target of $35.
More Tesla:
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Ark Invest also bought a total of 131,943 shares of (TWLO), another cloud computing company, at nearly $9 million, in addition to another 74,236 shares of (ZM), at a little more than $5 million.
And at the top end of a weeks-long green streak that brought longtime Ark favorite (TSLA) from $184 per share to $275, Ark dumped more than 11,000 shares of the EV makers. Even after trimming off that bit of Tesla, Elon Musk's flagship company is still Ark Innovation's biggest investment, with more than 3.5 million shares weighted at 12.5% of the ETF.
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