Ace hedge fund manager Cathie Wood’s ARK Invest ETFs (exchange-traded funds) have been offloading shares of Roku (ROKU) and Tempus AI (TEM) recently, with this trend continuing on Friday. Following these repeated sales, ROKU is now the third-largest holding across ARK’s combined portfolios, with a 5.03% weighting, while Tempus AI is placed at the seventh position with a 4.3% weighting.
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Meanwhile, ARK ETFs have been boosting their holdings in biotech names like CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM), and Arcturus Therapeutics Holdings (ARCT).
Cathie Wood’s ARKK ETF Trims Stake in ROKU Shares
On Friday, September 19, the ARK Innovation ETF (ARKK) sold 22,732 shares of streaming platform Roku, worth about $2.25 million. This transaction followed the offloading of 47,474 Roku shares on Thursday.
ROKU stock has risen 37% year-to-date. Strong momentum in the top line and signs of improving profitability are driving the stock higher.
What Is the Prediction for ROKU Stock?
Currently, Wall Street has a Moderate Buy consensus rating on ROKU stock based on 15 Buys, seven Holds, and one Sell recommendation. The average ROKU stock price target of $108.71 indicates about 7% upside potential.
ARKK Sells Tempus AI Shares
On Friday, ARKK sold 60,550 shares of AI-powered healthcare technology company Tempus AI, valued at about $5.3 million. In fact, ARKK sold 43,157 TEM shares on September 18. TEM stock has rallied more than 161% year-to-date.
Is Tempus AI a Good Stock to Buy?
With six Buys and five Holds, Wall Street has a Moderate Buy consensus rating on Tempus AI stock. The average TEM stock price target of $73.30 indicates a 17% downside risk from current levels.
