One ARK exchange-traded fund run by ETF star Cathie Wood bought over 760,000 shares of Trimble Inc. (NASDAQ: TRMB) shares on Tuesday, as the price of this ETF gained less than 2% in Tuesday’s session. This ETF is up well over 100% in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 760,613 shares of Trimble. At Tuesday’s closing price this purchase would be valued at roughly $63 million. This is only a small fraction of the total holdings. ARKK is up 213% over the past 52 weeks.
For some quick background, Trimble provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. It operates through four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.
This company recently got a boost when it was revealed to be the top holding in Cathie Wood’s new ARK Space Exploration ETF (NYSEARCA: ARKX).
Also over the past year, Trimble’s revenue has declined 4%. However, this hasn’t stopped the company from buying back about $81.6 million worth of stock. Note the company currently has a market cap of $20.8 billion and it is currently holding just below an all-time high.
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 247wallst.com.
Sponsored: Want to Retire Early? Here’s a Great First Step
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.
Editors' Picks
