Long-time Tesla (NASDAQ:TSLA) bull Cathie Wood recently increased her fund’s position in the stock. According to a recent update, 17,369 shares were added to the ARK Next Generation Internet ETF (ARKW), while 51,960 shares were added to the ARK Innovation ETF (ARKK).
This marks Cathie Wood’s first purchase since January when prices were closer to the $120 range. Tesla shares have seen a strong rally so far on a year-to-date basis, with prices increasing over 67% during this timeframe.
Wall Street appears to share Wood’s optimism as Tesla stock is rated a Moderate Buy according to analyst consensus. With an average price target of $211.93, it comes with over 16% upside potential.
