Investing
Cathie Wood’s ARK Invest Sells Over 28,000 Shares of Netflix
Published:
Last Updated:
One of the ARK exchange-traded funds run by ETF star Cathie Wood made a huge sale on Tuesday. Accordingly this fund sold over 28,000 shares of Netflix, Inc. (NASDAQ: NFLX) shares on Tuesday, as the price of this ETF was relatively flat on the day. Note that this ETF is still up over 100% in the last year.
ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 28,169 shares of Netflix. At Tuesday’s closing price this would have valued this purchase at roughly $15 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKW is up 261% in the last year.
24/7 Wall St. recently reported on Netflix:
Despite a solid performance in the fourth quarter, analysts were somewhat mixed on the online video streamer after the fact.
The company said that it had $1.19 in earnings per share (EPS) and $6.64 billion in revenue. The consensus estimates had called for $1.39 in EPS and $6.63 billion in revenue. In the fourth quarter of last year, Netflix reported $1.30 in EPS and $5.57 billion in revenue.
During the latest quarter, global net subscription additions totaled 8.51 million. Note that Netflix now has 203.66 million total memberships worldwide.
Looking ahead to the first quarter, the company projects $2.97 in EPS on $7.13 billion in revenue. At the same time, it expects to see net subscriber adds of 6.00 million. The consensus estimates call for $2.10 in EPS on $7.01 billion in revenue.
Netflix finished the quarter with cash and cash equivalents of $8.21 billion, up from $5.02 billion at the end of the 2019 full year.
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.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
