COIN

Shiba Inu

Ark Invest, an investment management firm led by Cathie Wood, made significant adjustments in multiple funds on Wednesday. Ark Invest funds offloaded Coinbase shares worth millions as part of the active portfolio management strategy, sparking speculation ahead Q4 earnings report. 
<h2 id="cathie-wood-s-ark-invest-offloads-coinbase-shares">Cathie Wood’s Ark Invest Offloads Coinbase Shares</h2> 
On February 14, Cathie Wood’s Ark Invest sold a total of 214,068 Coinbase shares worth nearly $35 million, as per trades seen by CoinGape. The move comes in response to an 18% jump in COIN price as Bitcoin rally over $52K and massive inflows in spot Bitcoin ETFs. 
ARK Innovation ETF (ARKK) sold 152,600 Coinbase shares, ARK Next Generation Internet ETF (ARKW) offloaded 31,459 COIN shares, and Ark Fintech Innovation ETF (ARKF) sold 30,009 COIN shares. 
Coinbase (<a href="https://coingape.com/crypto-stocks/COIN/" target="_blank" rel="noopener">COIN</a>) price closed 14.24% higher at $160.38 on Wednesday. The stock price jumped 4.09% to $166.94 after hours as <a href="https://coingape.com/bitcoin-btc-price-shoots-past-52400-crypto-market-liquidation-at-225-million/" target="_blank" rel="noopener">Bitcoin surpassed $52K</a>&nbsp;mark. 
The selloff before the earnings report raised questions among investors. Some experts believe <a href="https://coingape.com/exclusive-coinbase-full-year-results-likely-to-disappoint-the-market/" target="_blank" rel="noopener">Coinbase earnings</a> may disappoint investors, but a surprise outcome is expected amid a growing crypto market cap and trading. Coinbase expected EPS is $0.27 and revenue is $820.28 million. 
<h2 id="cathie-wood-buys-tesla-meta-and-sells-robinhood">Cathie Wood Buys Tesla, Meta and Sells Robinhood</h2> 
Cathie Wood’s Ark Invest purchased a total of 42,129 <a href="https://coingape.com/coinbase-coin-next-in-cathie-woods-ark-invest-radar-after-this-crypto-stock-buy/" target="_blank" rel="noopener">Robinhood Markets shares</a> on February 13, the first buy after the company reported better-than-expected earnings. However, it sold 119,394 HOOD shares as HOOD price closed almost 13% to $13.38 on Feb 14. 
Ark Invest funds purchased 145,455 <a href="https://coingape.com/cathie-woods-ark-invest-adds-arkb-bitcoin-etf-worth-51-mln-this-week-buys-tesla-shares/" target="_blank" rel="noopener">Tesla</a> shares valued at $27.45 million, and 7,796 META shares on Wednesday, increasing holdings in these digital assets-related firms. Cathie Wood also decided to sell 10,601 shares of NVIDIA Corp for 32,629 Qualcomm shares. 
Also Read: 
<ul> 
 <li><a title="XRP Attorney John Deaton Reveals Massachusetts Roots Amid Senate Run Possibility" href="https://coingape.com/xrp-attorney-john-deaton-reveals-massachusetts-roots-amid-senate-run-possibility/" target="_blank" rel="bookmark noopener">XRP Attorney John Deaton Reveals Massachusetts Roots Amid Senate Run Possibility</a></li> 
 <li><a href="https://coingape.com/shiba-inu-unveils-the-shib-magazines-latest-edition-heres-everything/" target="_blank" rel="noopener">Shiba Inu Unveils The Shib Magazine’s Latest Edition, Here’s Everything</a></li> 
 <li><a href="https://coingape.com/chainlink-link-and-solana-sol-gearing-up-for-major-price-rally-ahead/" target="_blank" rel="noopener">Chainlink (LINK) And Solana (SOL) Gearing Up For Major Price Rally Ahead</a></li> 
</ul> 
The post <a href="https://coingape.com/cathie-wood-ark-invest-sells-214068-coinbase-shares-before-earnings/">Breaking: Cathie Wood’s Ark Invest Sells 214,068 Coinbase Shares Ahead Earnings</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Cathie Wood’s Ark Invest Sells 214,068 Coinbase Shares Ahead Earnings

Table of Contents

Coingape News Media

Other articles published on Feb 15, 2024

Bitcoin Soars to Historical Highs Against Global Currencies

BTC, XRP, ADA Price Analysis: What’s Next for the Cryptocurrencies?

Bitcoin: Michael Saylor has big visions for the flagship cryptocurrency

Bitcoin Price Trends Over the Years

Elizabeth Warren embraces Bitcoin, celebrates Satoshi Nakamoto’s legacy

Daily Market Review: BTC, ETH, STX, SEI, BGB

Join our free newsletter for daily crypto updates!