Cathie Wood’s ARK Invest executed a series of portfolio adjustments on June 10, 2026, selling approximately $7.53 million worth of Robinhood Markets shares while trimming positions in Iridium Communications, Veracyte, and several other holdings. The firm also added to its stake in Kodiak AI.
The Robinhood sale involved 89,915 shares and coincided with the stock climbing above $90 in early trading. ARK’s move appears to be profit-taking rather than a shift in long‑term conviction, as the firm still holds a position in the company. The trade was disclosed via daily data from ArkInvestTracker and was carried out through one of ARK’s actively managed ETFs, likely ARKK or ARKF.
In contrast, insider activity tells a bullish story. Robinhood director Meyer Malka, founder of Ribbit Capital, bought over $20 million in shares on June 5 alone and has accumulated more than $50 million in the past week. This heavy insider buying often signals strong internal confidence. Wall Street analysts maintain a Strong Buy consensus on Robinhood with an average price target of $99.56, implying roughly 15% upside from recent levels.
Beyond Robinhood, ARK sold 186,720 shares of Iridium Communications for $8.42 million, continuing a multi‑day reduction, and 143,385 shares of Veracyte for $7.06 million. The main buy was Kodiak AI, with 141,502 shares purchased for $868,822, extending a recent accumulation pattern across ARK’s ETFs. Smaller sales included Roku, Twist Bioscience, and several genomic and medical positions.
The rebalancing comes as Robinhood receives approval to act as an IPO underwriter, unlocking a new fee stream, and after the platform reported a 9% month‑on‑month increase in total assets in May. ARK’s trades are closely watched due to the firm’s focus on disruptive innovation, but this activity is a standard portfolio adjustment rather than a directional bet on the stock.
