Cathie Wood Sells Snapchat, DocuSign For Second Straight Day, Buys Spotify

Cathie Wood-led Ark Investment Management on Monday booked profit in DocuSign Inc (NASDAQ:DOCU) for a second straight day, after boosting confidence in the e-signature company’s ability to draw more customers. Ark Invest sold 46,938 shares, estimated to be worth about $11.37 million, in DocuSign as shares of the San Francisco, California-based company closed 0.56% higher at $242.32 on Tuesday. Shares of DocuSign have risen about 4% since Friday. Wood’s firm said on Friday, after market hours, DocuSign appears to be gaining traction in international markets and the growth in its Agreement Cloud amid COVID-19 is not a temporary shift.  Wood’s firm sold the shares in DocuSign via the Ark Innovation ETF (NYSE:ARKK). Ark also holds a stake in the company via the Ark Next Generation Internet ETF (NYSE:ARKW). The popular investment firm’s holding in DocuSign, whose worth is estimated to be about $592.9 million based on Tuesday’s closing price,  is now down to 2.46 million shares.  See Also: Cathie Wood Sells $26M In DocuSign Days After Spelling Bull Case, Also Sheds $6M In Snapchat The investment firm also sold 77,407 shares, estimated to be worth about $4.65 million, in Snapchat parent Snap Inc (NYSE:SNAP). Shares of the social media company closed 1.99% lower…
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