Cathie Wood's Friday Flurry: Buys TTD and CRSP, Sells Roblox and Palantir Stocks
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The biggest buy of the day was The Trade Desk, with ARK Innovation ETF (ARKK) purchasing 210,664 shares worth $29.5 million. The trade came the same day TTD posted second-quarter results, which showed a revenue slowdown and sent the stock tumbling in pre-market trading on Friday. The company also named Alex Kayyal as its new chief financial officer, effective August 21, replacing Laura Schenkein.
Following the results, Several Wall Street analysts downgraded the stock, pointing to slower growth, rising competition, and valuation pressures.
ARK also bought 8,292 shares of CRISPR Therapeutics for $714,200. The move indicates Wood's continued confidence in the gene-editing pioneer's long-term prospects, even as the biotech sector faces ongoing volatility.
ARK Trims Stakes in These Stocks
On the sell side, ARK Invest pared back holdings in several well-known names. The firm sold $10.8 million worth of Roblox shares from its ARKK and ARK Next Generation Internet (ARKW) ETFs. It also trimmed its stake in Palantir Technologies, a data analytics and AI software provider for governments and enterprises, unloading $7.1 million worth of shares.
In addition, ARK reduced its Shopify (SHOP) position by $7.1 million. The e-commerce platform helps businesses create and manage online stores. The fund also cut its Pinterest (PINS) holdings by $14.0 million across ARKK and ARKW.
In terms of share price performance, RBLX, PLTR, SHOP, and PINS have gained 244%, 536%, 119%, and 21%, respectively, over the past year. Let's take a brief look at how all these stocks perform on
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