Cathie Wood Makes Massive Buy In Nvidia Stock: Here's What You Should Know

Cathie Wood-led Ark Investment Management on Monday bought 366,982 shares of NVIDIA Corporation NASDAQ:NVDA valued at nearly $65.3 million, based on Monday's closing price, via three of its exchange-traded funds.

NVIDIA is the 26th largest holding in Ark's flagship Ark Innovation ETF NYSE:ARKK, with a weight of 0.9%, according to the fund's website.

Data shows that ARKK alone holds 763,867 shares of the chipmaker valued at nearly $136 million, including the 289,229 shares purchased on Monday.

Ark also bought 47,069 Nvidia shares via Ark Next Generation Internet ETF NYSE:ARKW and 30,684 shares via Ark Fintech Innovation ETF NYSE:ARKF on Monday.

Earnings: Nvidia's shares closed over 6% down on Monday as the firm slashed its revenue guidance for the second quarter to $6.7 billion from $8.1 billion due to weaker than forecasted gaming revenue. In its preliminary financial results announcement, the firm said its gaming revenue stood at $2.04 billion, down 44% sequentially and down 33% from the prior year.

See Also: Where's Nvidia Stock Headed Next After Q2 Guidance Letdown?

Analyst Ratings: On Monday, Craig-Hallum downgraded the stock to 'hold' from 'buy,' while trimming the price target to $180 from $210, according to data from Benzinga Pro.

Other Buys: The fund purchased 245,910 shares of Twilio Inc NYSE:TWLO via three ETFs, valued at over $21.2 million based on Monday's closing price.

The Ark Innovation ETF also bought 210,213 Teladoc Health Inc NYSE:TDOC shares.

Major Sale: The Ark Innovation ETF sold 994,801 shares of Signify Health Inc NYSE:SGFY, 852,851 shares of DraftKings Inc NASDAQ:DKNG and 307,711 shares of Fate Therapeutics Inc NASDAQ:FATE.

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