Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made some notable trades on Thursday, August 14. The most significant trade was the purchase of 64,789 shares of Deere (DE) for $33.3 million by ARK’s flagship Ark Innovation ETF (ARKK). The transaction reflects Wood’s bullish stance on the agriculture and construction equipment maker despite a selloff in DE stock after the company reported a decline in its Fiscal Q3 earnings and warned of a higher-than-anticipated impact of tariffs.
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Deere stock fell about 6.8% yesterday, as the company revised its full-year earnings outlook to reflect tariff pressures and weak demand.
ARK’s Other Big Bets on Thursday
Aside from Deere, ARK Invest ETFs made some other significant purchases on Thursday, including further stakes in Exact Sciences (EXAS), a provider of cancer screening and diagnostic tests, and Robinhood Markets (HOOD), a trading platform. Reinforcing its bullish stance on these stocks, the ARKK ETF bought 298,422 shares of Exact Sciences for an aggregate amount of $13.4 million and 87,681 shares of Robinhood for $9.5 million.
Other trades made yesterday included 80,619 shares of genomic sequencing company Illumina (ILMN) for $7.9 million by the ARKK ETF and 76,713 shares of cybersecurity company Datadog (DDOG) for $9.9 million by the ARK Next Generation Internet ETF (ARKW).
Additionally, the ARKW ETF bought 86,706 shares of fintech company Block (XYZ) for $6.7 million. Block stock jumped earlier this week after the company announced a $1.5 billion debt offering to qualified institutional investors.
Overall, Wood continues to invest in companies with disruptive technologies and attractive growth potential.
Using TipRanks’ Stock Comparison Tool, let’s look at Wall Street’s ratings on the stocks discussed above.
With the exception of Illumina, other stocks discussed here have scored Strong Buy/Moderate Buy ratings from Wall Street. The consensus rating on Illumina is a Hold, with the average stock price target of $112.95 indicating a 12.9% upside potential.
