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5 Top Stocks Cathie Wood Bought This Week

  • Cathie Wood's stock purchases have largely outnumbered her sales this week.
  • The fund manager purchased shares in companies like Ginkgo Bioworks (DNA) and Teradyne (TER).
  • Shares of her flagship ETF, the ARK Innovation ETF (ARKK), are down over 45% year-to-date.
Cathie Wood stocks - 5 Top Stocks Cathie Wood Bought This Week

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Shares of Cathie Wood’s flagship exchange-traded fund (ETF), the ARK Innovation ETF (NYSEARCA:ARKK), are up about 20% the past month. Despite the short term recovery, the ETF is still down more than 45% year-to-date. Cathie Wood stocks haven’t exactly beaten the market so far this year.

In related news, the ARK Transparency ETF (BATS:CTRU) will officially be shutting down just eight months after its launch. However, the termination of the fund is not related to performance or a lack of popularity. Rather, the index that CTRU tracks, The Transparency Index, will cease to calculate performance at the end of the month. Ark Invest stated that it had failed to find an alternative index to track. CTRU will close on July 26, or “as soon as practical thereafter.” This will be Ark’s first ever fund-closure.

With that in mind, let’s take a look at five stocks that Cathie Wood bought this week.

5 Top Stocks Cathie Wood Bought This Week

1. Kratos Defense & Security Solutions (KTOS)

Kratos (NASDAQ:KTOS) operates as a national security company that develops weapons and communication and cybersecurity services for the U.S. and its allies. Unlike many other companies who are cutting their workforce, Kratos recently announced additional job openings at its facility in Birmingham, Alabama. The company also announced that it will invest $8.6 million at its Birmingham facility over the next five years. This investment will support advancements in hypersonic technology.

From July 18 to July 20, Wood purchased 219,011 shares of KTOS through two of her ETFs. After the purchases, Ark Invest now owns a total of 9.96 million shares.

2. Teradyne (TER)

Teradyne (NASDAQ:TER) is an automatic test equipment designer that serves customers such as Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM). The company helps customers automate two key aspects of manufacturing: task automation and electronic testing. The company’s task automation process utilizes collaborative robots to help automate tasks and deliver a fast return on investment (ROI). The electronics testing process helps companies reduce the time-to-market for products using automated test equipment (ATE).

From July 18 to July 20, Wood purchased 53,822 shares of TER through two of her ETFs. Ark Invest now owns a total of 497,048 shares.

3. Ginkgo Bioworks (DNA)

Ginkgo Bioworks (NYSE:DNA) is one of the few companies that Wood has been relentlessly buying through ARKK and the ARK Genomic Revolution ETF (BATS:ARKG). On July 18, the two ETFs scooped up a total of 1.15 million shares. After the purchases, Ark Invest owns a total of 86.41 million shares, making it a top ten shareholder. Across all Ark ETFs, DNA is currently the 19th largest position with a 1.63% allocation.

Ginkgo is a biotech company that specializes in genetic engineering. The company is involved with programming cells in a multitude of industries, ranging from food to therapeutics. This week, Ginkgo announced a collaboration with Sumitomo Chemicals, a leading chemical company in Japan. Sumitomo will leverage Ginkgo’s engineering expertise and codebase to help improve products in several industries, such as the beauty and personal care industry.

4. Trimble (TRMB)

Trimble (NASDAQ:TRMB) provides software and hardware solutions across a variety of industries. The company employs workers in over 40 countries, while its solutions are used in over 150 countries. Additionally, TRMB carries an average price target of $88.29 among seven firms with coverage of the stock. This implies upside of more than 35% from current price levels.

From July 18 to July 20, Ark Invest purchased 70,734 shares of TRMB through two of its ETFs. This marks a major shift in trend, as Ark only sold shares of Trimble between Dec. 27 and May 2. After the purchases, Ark owns a total of 2.22 million shares.

5. Twist Bioscience (TWST)

Twist Bioscience (NASDAQ:TWST) is a DNA synthesis company that offers DNA products to customers in several industries. The company developed a proprietary synthetic DNA manufacturing process that allows it to “minimize” the chemistry used for DNA synthesis. The miniaturization allows Twist to “reduce the reaction volumes by a factor of 1,000,000 while increasing throughput by a factor of 1,000.” As a result, Twist’s DNA process translates into time and cost savings for its customers.

On July 18, ARKK and ARKG purchased a total of 39,624 shares of TWST. After the purchases, Ark now owns a total of 6.59 million shares, making it the second largest shareholder behind FMR.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.


Article printed from InvestorPlace Media, https://investorplace.com/2022/07/5-top-stocks-cathie-wood-bought-this-week-2/.

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