ARK Invest Sells Robinhood Shares to Boost Pinterest Stake After Dip

TLDR

• ARK Invest purchased 521,867 shares of Pinterest worth $17.2 million after its stock declined by over 21 percent.
• Cathie Wood sold 56,095 Robinhood shares valued at $7.67 million to fund the Pinterest investment.
• The firm also reduced its holdings in Roku, Reddit, Rocket Lab, and several healthcare companies.
• Pinterest reported revenue in line with expectations but missed earnings per share due to moderating ad spend.
• Analysts maintain a Strong Buy consensus on Pinterest with an average target price of $44.33.

ARK Invest made a fresh move this week by buying Pinterest shares worth $17.2 million after a steep stock drop. The investment firm also sold Robinhood shares as part of its portfolio rebalancing. The decision highlights Cathie Wood’s ongoing strategy of buying growth stocks during temporary declines.

ARK Invest Buys Pinterest, Cuts Robinhood Shares

ARK Invest purchased 521,867 Pinterest shares across its ARKK, ARKW, and ARKF funds. The transaction followed a 21.8% decline in Pinterest’s stock after missing third-quarter earnings expectations. However, the revenue was roughly in line with forecasts, keeping long-term confidence intact.

Chief Financial Officer Julia Donnelly said the earnings miss came from “moderating ad spend” in the U.S. and Canada. The investment demonstrates ARK’s consistent approach of accumulating during market pullbacks. Therefore, it underscores belief in Pinterest’s monetization strategy despite short-term pressure.

Pinterest continues to attract attention from analysts with a “Strong Buy” consensus. Data from MarketBeat shows 22 Buy and 4 Hold ratings. The average target price currently stands at $44.33.

ARK Invest sold 56,095 Robinhood shares worth $7.67 million. The sale freed funds for the Pinterest purchase. It reflects a strategic reallocation within ARK’s active management framework.

Robinhood shares have shown mixed performance in recent months. The reduction aligns with ARK’s focus on maintaining liquidity for high-conviction positions. Cathie Wood has often reshuffled holdings in response to short-term valuation shifts.

The company also reduced positions in Roku Inc. by selling 105,576 shares valued at $11.2 million. This action balanced exposure between technology and consumer platforms. Robinhood shares remain part of ARK’s portfolio but at a lower weight.

ARK Invest Expands Crypto Reach and Rebalances

Beyond Pinterest and Robinhood shares, ARK Invest trimmed other holdings across sectors. The firm reduced stakes in Reddit, Rocket Lab, and several healthcare firms. These included 87,072 shares of Adaptive Biotechnologies and 20,101 of Ionis Pharmaceuticals.

It also sold 13,092 shares of Incyte Corp as part of regular rebalancing. ARK’s active trading approach ensures flexibility in volatile markets. The strategy maintains alignment with long-term growth goals.

Cathie Wood continues extending ARK’s reach into cryptocurrency markets. Last month, the company filed several applications with the U.S. SEC for new Bitcoin ETFs. The proposals include the ARK Bitcoin Yield ETF and ARK DIET Bitcoin 1 and 2 ETFs.

The filings came after regulators approved listing standards for spot crypto ETFs. ARK aims to expand its digital asset footprint. The move reflects growing interest in regulated crypto investment vehicles.

Through these filings, ARK seeks broader investor access to Bitcoin exposure. The initiative complements the firm’s innovative equity strategy. Meanwhile, the adjustment between Pinterest and Robinhood shares keeps its portfolio agile.

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