Cathie Wood's Ark Invest Buys More Shares Of This Meta Platforms Competitor

On Wednesday, Cathie Wood’s Ark Invest made a significant move by purchasing additional shares of Pinterest Inc PINS.

The PINS Trade

Ark Invest’s Fintech Innovation ETF ARKF acquired 26,925 shares of Pinterest, a popular social media website and a rival of platforms like Meta Platforms-owned Instagram and X. This move comes amidst a mixed financial picture for Pinterest, but with promising user growth as reported in their recent fourth-quarter earnings. The value of this trade, based on the closing price of $35.28 on the same day is $949,914.

This isn’t the first time Ark Invest has shown interest in Pinterest. Back in February, the investment firm made headlines when it purchased over $23 million worth of Pinterest shares, demonstrating its confidence in the company’s potential despite the Q4 turbulence. This recent purchase further solidifies Ark Invest’s position in Pinterest.

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Other Key Trades:

Ark Invest sold shares of Twilio Inc TWLO from its Fintech Innovation ETF. The firm also bought shares of Verve Therapeutics Inc VERV and Personalis Inc PSNL stock for its Genomic Revolution ETF

From its Next Generation Internet ETF, Ark Invest sold shares of Twilio Inc and bought Datadog Inc DDOG stock.

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