Cathie Wood-led Ark Investment Management on Monday bought 366,982 shares of NVIDIA Corporation (NASDAQ:NVDA) valued at over $51 million, based on Monday’s closing price, via three of its exchange-traded funds.
NVIDIA is the 26th largest holding in Ark's flagship Ark Innovation ETF (NYSE:ARKK), with a weight of 0.9%, according to the fund’s website.
Data shows that ARKK alone holds 763,867 shares of the chipmaker valued at nearly $136 million, including the 289,229 shares purchased on Monday.
Ark also bought 47,069 Nvidia shares via Ark Next Generation Internet ETF (NYSE:ARKW) and 30,684 shares via Ark Fintech Innovation ETF (NYSE:ARKF) on Monday.
Earnings: Nvidia's shares closed over 6% down on Monday as the firm slashed its revenue guidance for the second quarter to $6.7 billion from $8.1 billion due to weaker than forecasted gaming revenue. In its preliminary financial results announcement, the firm said its gaming revenue stood at $2.04 billion, down 44% sequentially and down 33% from the prior year.
Analyst Ratings: On Monday, Craig-Hallum downgraded the stock to ‘hold’ from ‘buy,’ while trimming the price target to $180 from $210, according to data from Benzinga Pro.
Other Buys: The fund purchased 245,910 shares of Twilio Inc (NYSE:TWLO) via three ETFs, valued at over $21.2 million based on Monday’s closing price.
The Ark Innovation ETF also bought 210,213 Teladoc Health Inc (NYSE:TDOC) shares.
Major Sale: The Ark Innovation ETF sold 994,801 shares of Signify Health Inc (NYSE:SGFY), 852,851 shares of DraftKings Inc (NASDAQ:DKNG) and 307,711 shares of Fate Therapeutics Inc (NASDAQ:FATE).