Cathie Wood-led Ark Investment Management on Monday bought 366,982 shares of NVIDIA Corporation NVDA valued at nearly $65.3 million, based on Monday’s closing price, via three of its exchange-traded funds.
NVIDIA is the 26th largest holding in Ark's flagship Ark Innovation ETF ARKK, with a weight of 0.9%, according to the fund’s website.
Data shows that ARKK alone holds 763,867 shares of the chipmaker valued at nearly $136 million, including the 289,229 shares purchased on Monday.
Ark also bought 47,069 Nvidia shares via Ark Next Generation Internet ETF ARKW and 30,684 shares via Ark Fintech Innovation ETF ARKF on Monday.
Earnings: Nvidia's shares closed over 6% down on Monday as the firm slashed its revenue guidance for the second quarter to $6.7 billion from $8.1 billion due to weaker than forecasted gaming revenue. In its preliminary financial results announcement, the firm said its gaming revenue stood at $2.04 billion, down 44% sequentially and down 33% from the prior year.
Analyst Ratings: On Monday, Craig-Hallum downgraded the stock to ‘hold’ from ‘buy,’ while trimming the price target to $180 from $210, according to data from Benzinga Pro.
Other Buys: The fund purchased 245,910 shares of Twilio Inc TWLO via three ETFs, valued at over $21.2 million based on Monday’s closing price.
The Ark Innovation ETF also bought 210,213 Teladoc Health Inc TDOC shares.
Major Sale: The Ark Innovation ETF sold 994,801 shares of Signify Health Inc SGFY, 852,851 shares of DraftKings Inc DKNG and 307,711 shares of Fate Therapeutics Inc FATE.
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