The firm purchased 989,792 shares of Pinterest, worth $40.3 million, on Thursday through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). On the day, Pinterest shares closed 0.27% lower at $40.72. In the after-hours trading, the stock declined another 9.23%.

Ark Invest’s acquisition of Pinterest shares comes at a time when the company reported a fourth-quarter revenue miss, yet showed an 11% increase in monthly active users. This move by Ark Invest may signal a strong belief in Pinterest’s long-term potential, especially considering the recent partnership with Amazon, which analysts believe could significantly boost its revenue streams.

Ark Invest’s decision to sell shares of Shopify Inc (NYSE:SHOP) comes after a period of volatility for the company, as detailed in a recent Benzinga report. The shares experienced a sell-off in December and January due to broader tech sector losses linked to rising Treasury yields, despite a previous 50% increase since October. Yet, in early January, Shopify shares surged, surpassing December highs and reaching a new 52-week peak. During this period, analysts adjusted Shopify’s price targets, spanning $65 to $100.

On Thursday, Ark sold another 2009 shares of Nvidia worth $1.4 million. The transactions were made through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Genomic Revolution ETF (BATS:ARKG), and Ark Fintech Innovation ETF (NYSE:ARKF). Nvidia shares closed 0.65% lower at $696.41.

Similarly, the sale of Nvidia Corp (NASDAQ:NVDA) shares by Ark Invest amidst the AI boom, as reported by Benzinga. Ark Invest sold 4053 Nvidia shares across multiple ETFs on Wednesday, valued at $2.84 million, signaling a notable shift in their investment strategy despite Nvidia’s recent surge of 41.55% since the beginning of 2024 and a 215.69% increase over 12 months. Analysts, like those at Morgan Stanley, foresee Nvidia’s substantial potential in AI, yet concerns over its high valuation persist, with Ark Invest’s move possibly reflecting a cautious approach towards Nvidia’s market position.

• Twilio Inc (NYSE:TWLO) saw a reduction in Ark’s holdings, aligning with strategic portfolio adjustments.
• Pacific Biosciences of Calif (NASDAQ:PACB) received a significant investment, highlighting Ark’s focus on genomic technologies.
• Twist Bioscience Corp (NASDAQ:TWST) was another key investment, underscoring the fund’s commitment to biotech innovation.
• Beam Therapeutics Inc (NASDAQ:BEAM) saw increased shares, reflecting Ark’s interest in gene editing technologies.