ARK Invest, which is known for owning technology stocks such as Coinbase and Tesla, appears to have started significant shares sales. This time, the company, which had strong COIN sales, particularly in November and December, had one of its biggest sales in the quarter before it.

The company, managed by Cathie Wood, sold $90 million worth of COIN shares at once on Friday. Sales; This was done through the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).

The shares are rising again

ARK, which bought COIN shares at around $30 during the price drops at the end of 2022, made a name for itself with its profit sales last year. The company was known for making large sales in March 2023, the day before the SEC filed a lawsuit against Coinbase.

Analysts are confused!

While the rise in technology shares is accompanied by Coinbase, analysts continue to write completely different reports. For example, KBW increased its price prediction, which was last set at $93, to $160. Companies such as Canaccord Genuity and Wedbush also increased their COIN price prediction.

However, JPMorgan analysts wrote a critical report after Coinbase’s earnings report on Thursday and stated that the company was not fully transparent. Mizuho also made a price prediction of $60 and targeted 1/3 of the current share price.

With an almost 30% increase on Friday, Coinbase ended the week at $180. During the 2022 cryptocurrency crisis, shares fell below $30.