Cathie Wood Is Buying The Tempus AI Dip, Ark Snaps Up Stock Worth $11 Million

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ: TEM) and Pinterest Inc. (NYSE: PINS). These trades come amid notable market movements and earnings reports that have influenced investor sentiment.

The Tempus AI Trade

Ark Invest’s decision to purchase Tempus AI stock comes after the company’s stock declined. On Wednesday, Tempus AI’s shares closed at $53.71, reflecting a 7.32% drop. This decline followed the company’s quarterly earnings report, which revealed losses of four cents per share, aligning with analyst expectations. Despite meeting estimates, the stock faced pressure.

Ark Invest’s trade involved ARK Innovation ETF (BATS: ARKK) and ARK Genomic Revolution ETF (BATS: ARKG) purchasing 212,825 shares worth nearly $11.4 million, based on the stock’s closing price on Wednesday.

The Pinterest Trade

In another notable move, Ark Invest sold shares of Pinterest. The social media company’s stock closed at $17.57 on Wednesday, marking a 3.66% increase.

Earlier in the month, the stock experienced volatility after Pinterest’s fourth-quarter earnings report. The report revealed a revenue miss and a weak outlook, contributing to declines. The company’s revenue came in at $1.3 billion, which missed analyst estimates of $1.33 billion. Pinterest guided first-quarter revenue in the range of $951 million to $971 million, compared with estimates of $980.12 million.

Ark’s decision to sell Pinterest 42,563 shares was executed through ARK Next Generation Internet ETF (BATS: ARKW) and ARK Blockchain & Fintech Innovation ETF (BATS: ARKF). The transaction was valued at $747,832.

Other Key Trades:

• Sold 1.14 million shares of PagerDuty Inc. (PD) through the ARKK ETF.
• Bought 58,301 shares of Symbotic Inc. (SYM) via the ARKQ ETF.
• Sold 36,430 shares of DraftKings Inc. (DKNG) through ARKK and ARKW.

Benzinga Edge Stock Rankings indicate Tempus AI stock has Momentum in the 14th percentile.

Photo Courtesy: PJ McDonnell on Shutterstock.com

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal