Cathie Wood Offloads $17 Million Worth Of Surging Robinhood Shares, Buys Up Deere & Co Stock Despite Decline In Net Sales

On Thursday, Cathie Wood-led Ark Invest executed significant trades involving Robinhood Markets Inc. HOOD and Deere & Co. DE.

The Robinhood Trade

Ark Invest sold 266,603 shares of Robinhood through ARK Innovation ETF ARKK. This decision comes as Robinhood’s stock has been on an upward trajectory, with a closing price of $63.80 on Thursday, marking a 14.11% increase. The trade was valued at $17.01 million.

On Wednesday, Robinhood released its fourth-quarter earnings. The retail-centric trading platform reported a revenue of $1.01 billion, marking an increase of 115% on a year-over-year basis. This was also a new company record. Cryptocurrency notional volumes swelled 400% on a year-over-year basis in the quarter. Gold subscribers rose 86%. Robinhood did not provide guidance for 2025 total operating expenses.

The Deere Trade

Ark Invest purchased 36,812 shares of Deere & Co through its ARKK ETF. Despite Deere’s recent first-quarter earnings report showing a 30% decline in net sales and revenue. The stock closed at $466.22 on Thursday, reflecting a 2.17% decrease. The purchase was valued at approximately $17.16 million. Deere’s earnings beat forecasts, but sales and profits have been impacted by declining equipment demand.

Other Key Trades:

Purchased 246,167 shares of Trade Desk Inc (TD) through ARKK and 71,017 shares through ARKW.
Sold 295,504 shares of Roku Inc (ROKU) through ARKK and another 61,186 shares through ARKW.
Purchased 306,168 shares of Iridium Communications Inc (IRDM) through ARKK.
Bought 34,857 shares of Pagerduty Inc (PG) through ARKK.
Bought 24,201 shares of Twist Bioscience Corp. (TWST) through ARKK.

Image via Shutterstock

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