On Tuesday, Cathie Wood-led Ark Invest made significant trades, focusing on Rocket Lab Corp (NASDAQ:RKLB) and Cloudflare, Inc. (NYSE:NET).
The Rocket Lab Trade
Ark Invest made a substantial purchase of Rocket Lab shares across multiple ETFs, including ARK Innovation ETF (BATS:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space & Defense Innovation ETF (BATS:ARKX).
The trades involved acquiring a total of 292,873 shares. Rocket Lab’s stock closed at $80.01 on Tuesday, making the total value of this purchase approximately $23.4 million.
Rocket Lab’s recent financial report showed mixed performance, with a second-quarter loss of 8 cents per share against an expected 7 cents; the company reported a revenue beat and a record backlog of $2.36 billion.
The Cloudflare Trade
Ark Invest also purchased Cloudflare, buying shares through the ARK Blockchain & Fintech Innovation ETF (BATS:ARKF) and ARKK. A total of 7,561 shares were acquired, valued at approximately $2.3 million, based on Cloudflare’s closing price of $306.97.
Cloudflare recently reported strong second-quarter results, with earnings per share of 29 cents, surpassing the consensus of 27 cents, and revenue reaching $696.06 million, exceeding estimates. The company’s CEO, Matthew Prince, highlighted record growth in customer additions and raised its fiscal 2026 outlook.
Other Key Trades
- Sold 29,860 shares of Deere & Co (DE) from ARKK and 2,566 shares from ARKQ.
- Sold 28,896 shares of Shopify Inc. (SHOP) from ARKK.
- Bought 160,60 shares of Schrodinger Inc.(SDGR) from ARKG.
- Bought 21,317 shares of Intellia Therapeutics Inc. (NTLA) from ARKG.
- Sold 6,021 shares of Caterpillar Inc. (CAT) from ARKQ.
Benzinga Edge Stock Rankings indicate Rocket Lab Stock has a Momentum score in the 73rd percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: ChrisStock82 / Shutterstock