ARK Investment Management, founded by Cathie Wood, sold 27,102 shares of Tesla Motors (TSLA) worth approximately $11.6 million through its flagship ARKK ETF on Wednesday.

The transaction occurred as Tesla's stock rose 1.71% to close at $426.58. The company's market cap recently surged by $90 billion amid enthusiasm around its AI and autonomous vehicle initiatives. However, analysts expressed mixed concerns over Tesla's core business performance following its latest quarterly results.

ARK purchased 62,166 shares of Coinbase Global, Inc. (COIN) across multiple ETFs, totaling about $16.5 million. Coinbase's stock closed 4.27% higher at $264.97.

Despite strong Q3 results—$1.9 billion revenue and $1.50 EPS—Coinbase faces pressure from Bitcoin's decline and high valuations. Argus Research downgraded it to "Hold," noting its P/E ratio of 39x 2026 earnings far exceeds peers. The firm suggested a potential upgrade if valuations align with competitors.

Additionally, ARK acquired 30,518 shares of Deere & Company (DE) valued at $14.3 million. The agricultural machinery giant’s stock fell 5.67% to $469.87 after reporting Q4 earnings and a subdued FY2026 outlook. ARK’s move signals a strategic bet on Deere’s recovery.