On Wednesday, Cathie Wood-led Ark Invest made a bold move by significantly increasing its position in Robinhood Markets Inc. (NASDAQ:HOOD), acquiring over 433,000 shares across multiple ETFs despite the stock’s 8% drop following a 38% plunge in crypto revenue. Ark also purchased shares of Figma Inc. (NYSE: FIG) on the same day and sold a substantial amount of Airbnb Inc. (NASDAQ: ABNB) stock.
The Robinhood Trade
ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) collectively purchased 433,806 shares of Robinhood. The buys came right after the Vlad Tenev-led company disclosed weaker-than-expected cryptocurrency transaction revenue of $221 million, down sharply year-over-year, which pressured the stock.
The trade on Wednesday was estimated to be worth $33.9 million based on Robinhood stock’s closing price of $78.07.
The Figma Trade
ARKW added 280,138 shares of Figma as the collaborative design platform gained traction. Shares rose after JPMorgan analysts predicted a software-sector rebound, positioning Figma favorably amid AI-driven workflow shifts. The transaction was worth $6.3 million as Figma stock closed at $22.57 for the day.
The Airbnb Trade
Ark trimmed holdings in Airbnb across ARKF, ARKK, and ARKW, selling a net 186,754 shares. The value of the shares sold was estimated at $22.3 million based on Airbnb’s stock price of $119.55.
The adjustments precede Airbnb’s upcoming earnings. The company is set to report quarterly earnings on Thursday, with analysts estimating EPS of $0.66, as investors look for a potential beat and upbeat guidance.
Other Key Trades:
ARK funds bought 75,559 shares of Circle Internet Group Inc. (CRCL) across ARKF, ARKK and ARKW.
Acquired 364,134 shares of Bullish (BLSH) in ARKF, plus for ARKK and ARKW.
Added 150,421 shares of Shopify Inc. (SHOP) for ARKF, ARKW and ARKK.
Sold 413,038 shares of Pinterest Inc. (PINS) combined from ARKF and ARKW.
Offloaded 486,741 shares of Unity Software Inc. (U) from ARKW.