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. (NASDAQ:HOOD) and Deere & Co. (NYSE:DE).

The Robinhood Trade 

Ark Invest sold 266,603 shares of Robinhood through ARK Innovation ETF (NYSE: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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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal