Cathie Wood Dumps Airbnb Stock, Loads Up on Robinhood and Shopify

TLDR

• Cathie Wood’s ARK Invest bought shares in Robinhood, Shopify, Tempus AI, and Roblox after their stock prices dropped following earnings reports
• ARK sold $31 million worth of Airbnb stock on February 12, continuing to reduce its position in the vacation rental company
• Wood also trimmed holdings in DraftKings, Teradyne, and Pinterest, selling millions in these stocks
• ARK purchased $13.5 million in Shopify and $13.6 million in Robinhood, betting on long-term growth potential
• Analysts give Robinhood and Pinterest “Strong Buy” ratings with over 90% upside potential in the next twelve months

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Cathie Wood’s ARK Invest made major portfolio changes on Thursday, February 12, buying beaten-down tech stocks after recent earnings reports caused sharp price drops. The investment firm purchased shares in Robinhood Markets, Shopify, Tempus AI, and Roblox while selling positions in Airbnb, DraftKings, and other companies.

ARK bought 174,677 shares of Robinhood for $13.6 million after the trading platform’s stock fell 8.79% following disappointing quarterly results. The firm also purchased 114,020 shares of Shopify worth $13.5 million as the e-commerce company’s stock dropped 6.78% on earnings news.

Robinhood Markets, Inc., HOOD

The moves show Wood’s strategy of buying stocks when they hit low prices after earnings disappointments. She views these price drops as entry points for companies with strong long-term potential. During earnings season, many investors adjust their portfolios based on company results and future guidance.

Wood also added 210,301 shares of health tech company Tempus AI for $11.3 million. The stock had fallen 5.28% in recent trading. ARK purchased 156,974 shares of Toast for $4.4 million and 134,595 shares of gaming platform Roblox for $9.3 million after Roblox dropped 8.46%.

ARK sold its largest position in Airbnb, offloading 259,652 shares worth $31 million. The sale was spread across ARK’s ARKK, ARKW, and ARKF exchange-traded funds. This marked the second consecutive day ARK reduced its Airbnb holdings.

Trimming Other Positions

The investment firm sold 680,371 shares of DraftKings for $17.9 million, continuing a pattern of reducing its position in the betting platform. DraftKings stock had dropped 4.33% in recent trading. ARK also sold 214,031 shares of Pinterest for $4.1 million and 13,992 shares of test equipment maker Teradyne worth $4.5 million.

Wood sold 2,866 shares of MercadoLibre for $5.8 million as well. The firm reinvested cash from these sales into companies like Robinhood and Shopify where Wood sees stronger growth opportunities.

ARK made one additional purchase of 522,763 shares in Genius Sports for $3.2 million. This shows continued interest in sports technology and gaming companies.

Analyst Ratings and Price Targets

Analysts currently rate Robinhood Markets as a “Strong Buy” with an implied upside potential of more than 90% over the next twelve months. Pinterest also carries a “Strong Buy” consensus rating from analysts with similar upside potential.

These analyst views support Wood’s decision to buy Robinhood at current prices. The ratings suggest Wall Street believes both stocks have room to grow despite recent price drops.

ARK’s daily trade disclosures show the firm’s focus on technology and innovation sectors. The purchases concentrated on financial technology, e-commerce, health tech, and gaming platforms. The sales reduced exposure to travel, sports betting, and social media companies.

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