Cathie Wood Sells Another $2.5M In Twitter Shares, Buys $2.5M In This Fintech Stock

Cathie Wood-led Ark Investment Management on Friday further lowered its exposure in Twitter Inc TWTR, a day after the company reported lower-than-expected fourth-quarter earnings. 

Ark Invest sold 71,418 shares — estimated to be worth $2.55 million — in the San Francisco, California-based company.

Twitter stock closed 3.3% lower at $35.8 a share on Friday. The stock is down 21.7% since Nov. 29 when Parag Agarwal was named CEO after co-founder Jack Dorsey’s surprise exit.

Ark Invest owns shares in Twitter via three of its active exchange-traded funds — the Ark Innovation ETF ARKK, the Ark Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF.

See Also: Cathie Wood Further Lowers Exposure In Twitter After Social Media Company Misses On Q4 Earnings

The three ETFs held 2.82 million shares — worth $104.5 million — in Twitter, prior to Friday’s trade.

Twitter missed estimated earnings by 5.71%, reporting an EPS of $0.33 for the fourth quarter versus an estimate of $0.35, as per Benzinga Pro.

Here are a few other key Ark Invest trades on Friday:

• Bought 187,937 shares — estimated to be worth $2.5 million— in Robinhood Markets Inc HOOD. The stock closed 1.5% lower at $13.3 a share on Friday.
• Bought 482,820 shares — estimated to be worth $7.9 million — in TuSimple Holdings Inc TSP. Shares closed 0.6% higher at $16.47 a share on Friday.