On Wednesday, June 17, Cathie Wood-led Ark Invest made significant trades involving Robinhood Markets Inc (NASDAQ:HOOD), Coinbase Global Inc (NASDAQ:COIN), and Block Inc (NYSE:XYZ). These trades reflect Ark’s strategic positioning amid market fluctuations and recent developments in the financial and cryptocurrency sectors.

The Robinhood Trade

Ark Invest’s ARKK fund sold 275,572 Robinhood shares on Wednesday through the ARK Innovation ETF (BATS:ARKK). The sale came as Robinhood’s stock surged by 8.78%, closing at $105.20.

This increase followed positive analyst ratings, including Argus Research’s upgraded price target from $90 to $110. The stock’s rise was further supported by Robinhood’s announcement of a 10% workforce reduction.

Read Also: Bitcoin, Ethereum, XRP, Dogecoin In Red Even As Trump Signs Iran Peace Deal: Analyst Says BTC In 'Fragile Recovery Phase'

The Coinbase Trade

Ark Invest made a substantial purchase of Coinbase shares across multiple funds. The ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Next Generation Internet ETF (BATS:ARKW) and ARKK collectively acquired 111,799 shares. Coinbase’s stock closed at $164.91, down by 2.57% on Wednesday. T

This acquisition comes amid Coinbase’s recent launch of fully backed tokenized U.S. stocks, a move that differentiates it from other platforms like Binance and OKX.

The Block Trade

Ark Invest’s ARKK fund also bought 236,759 shares of Block, with the stock closing at $72.84, a decline of 2.46%.

The Jack Dorsey-led company reported first-quarter earnings of 85 cents per share in early May, beating analyst estimates, while revenue of $6.06 billion narrowly missed expectations. Gross profit rose 27% year over year, driven by growth in Cash App and financial services.

Block raised its full-year outlook, forecasting 19% gross profit growth and 62% adjusted diluted EPS growth in 2026, and its shares rose more than 8% in extended trading following the results.

Other Key Trades:

  • Eli Lilly and Co (LLY): Ark’s ARKG and ARKK funds bought a combined 41,138 shares.
  • Roku Inc (ROKU): Ark’s ARKF, ARKK, and ARKW funds sold a total of 239,267 shares.
  • Twist Bioscience Corp (TWST): Ark’s ARKG fund sold 80,140 shares.

Benzinga Edge Stock Rankings indicate Robinhood stock has a Momentum score in the 54th percentile and a Value score in the 12th percentile.

Read Also: Smartbird, Nebius Group, IceCure Medical, Robinhood And Meta: Why These 5 Stocks Are On Investors' Radars Today

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: ChrisStock82 / Shutterstock