From Nasdaq:

Ark Invest, led by Cathie Wood, acquired over $40 million in Pinterest shares despite a Q4 revenue miss, purchasing 989,792 shares across multiple ETFs. The move suggests confidence in Pinterest’s long-term potential, especially in light of a recent partnership with Amazon. Ark Invest also sold Shopify and Nvidia shares worth $9.5 million and $1.4 million, respectively.

Ark Invest’s purchase of Pinterest shares is significant in the wake of a fourth-quarter earnings miss but 11% increase in monthly active users. This signals confidence in Pinterest’s long-term potential, especially given its recent partnership with Amazon, which analysts believe could significantly boost its revenue streams.

Ark Invest’s decision to sell shares of Shopify comes after the company experienced volatility due to broader tech sector losses linked to rising Treasury yields. Despite a 50% increase in October and recent highs in January, Shopify’s share price also experienced volatility.

Ark Invest also sold Nvidia shares despite the company’s surge in recent months. While analysts foresee substantial potential in Nvidia’s AI market, concerns over its high valuation persist, particularly in light of Ark Invest’s cautious approach.

Other key trades include a reduction in holdings for Twilio, as well as significant investments in Pacific Biosciences, Twist Bioscience, and Beam Therapeutics. This underscores Ark Invest’s focus on genomic technologies and biotech innovation.

Ark Invest acquired over $40 million in Pinterest shares, despite a Q4 revenue miss. This signals confidence in Pinterest’s long-term potential, especially given its recent partnership with Amazon. Ark Invest also sold shares in Shopify and Nvidia, with holdings reduced for Twilio, and significant investment in Pacific Biosciences, Twist Bioscience, and Beam Therapeutics.



Read more: Cathie Wood Trims Nvidia, Shopify Stakes To Pump Whopping $40M Into Pinterest Despite Q4 Revenue Miss