TLDR
- ARK Invest sold 89,915 shares of Robinhood worth $7.53 million on June 10 as the stock climbed above $90
- ARK also sold 186,720 shares of Iridium Communications for $8.42 million, continuing a multi-day reduction
- Kodiak AI was ARK’s main buy, with 141,502 shares purchased for $868,822
- Robinhood director Meyer Malka bought over $50 million in Robinhood shares in the past week, signaling insider confidence
- Analysts have a Strong Buy consensus on Robinhood with an average price target of $99.56
Cathie Wood’s ARK Invest made several portfolio moves on June 10, 2026. The firm sold shares in Robinhood Markets, Iridium Communications, and Veracyte, while adding to its position in Kodiak AI.
The trades reflect ARK’s ongoing effort to rebalance its holdings across innovation-focused companies.
The Robinhood Sale
ARK sold 89,915 shares of Robinhood on June 10, worth approximately $7.53 million. The sale came as Robinhood stock climbed above $90 in early trading, extending a strong recent run.
Robinhood has been posting solid growth. The company reported that total platform assets rose 9% in May compared to the prior month.
CEO Vlad Tenev also announced that Robinhood Securities received approval to act as an IPO underwriter. This gives the company access to a new source of fee income.
The ARK sale appears to be profit-taking rather than a change in long-term outlook. Insider activity tells a different story — Robinhood director Meyer Malka, founder of Ribbit Capital, purchased around $20.18 million in Robinhood shares on June 5 alone.
Malka’s total purchases over the past week exceeded $50 million. That level of insider buying often signals strong internal confidence in the company’s direction.
On TipRanks, Robinhood holds a Strong Buy consensus rating based on 15 Buy ratings and 3 Hold ratings. The average price target of $99.56 implies about 15% upside from current levels.
Iridium Sale and Kodiak AI Buy
ARK’s largest single trade on the day was the sale of Iridium Communications shares. The firm sold 186,720 shares for $8.42 million. This continued a pattern from the prior day, suggesting a deliberate reduction in the Iridium position.
ARK also sold 143,385 shares of Veracyte for $7.06 million. This follows a week-long trend of reducing exposure to the genomic diagnostics company.
On the buy side, Kodiak AI was the standout. ARK purchased 141,502 shares for $868,822. This aligns with recent accumulation of Kodiak AI stock across ARK’s ETFs.
Other smaller sales included Roku, Twist Bioscience, Strata Critical Medical, 10X Genomics, Cerus, Pacific Biosciences, and Recursion Pharmaceuticals. None of these sales exceeded $1.7 million individually.
These moves reflect ARK’s continued strategy of rotating out of some positions while building stakes in companies it sees as aligned with emerging technology trends.
Robinhood’s approval to underwrite IPOs and its growing platform assets make it a company analysts continue to watch closely heading into the second half of 2026.
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