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Investing

Cathie Wood’s ARK Invest Buys Over 450,000 Shares of Zillow

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By Chris Lange Published
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Cathie Wood’s ARK Invest Buys Over 450,000 Shares of Zillow

© RyanCSlimakPhoto / iStock via Getty Images

A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Thursday. Accordingly these funds bought over 450,000 shares of Zillow Group, Inc. (NASDAQ: ZG | ZG Price Prediction) shares on Thursday, as the price of these ETFs lost over 5% on Thursday. Note that these ETFs are still up well over 100% in the last year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 320,124 shares of Zillow, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 138,390 shares. At Thursday’s closing price this would have valued this purchase at roughly $68 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 120% in the last year, and ARKW Is up 129%.

24/7 Wall St. recently reported on Zillow:

Zillow Group Inc. (NYSE: ZG) was reiterated with a Buy rating and a $230 price target at Needham. The much lower consensus target is $190.45, and Thursday’s close was at $200.60 a share, which was up almost 17% after it posted huge earnings.

[nativounit]

Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of a673b.bigscoots-temp.com

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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