According to an email update sent by the investment management business, Cathi Wood has made additional purchases of Adobe stock for one of the ARK funds she manages. This comes after the shares of the software manufacturer experienced a drop when the company acquired a smaller competitor named Figma.
ARKW Acquired Some Adobe Stocks
According to a declaration made on Monday, ARK Next Generation Internet (ARKW) has acquired 23,605 shares in Adobe (NASDAQ:ADBE), which are expected to be worth around $6.8 million.
According to Bloomberg, the same fund purchased 22,874 shares of Adobe on September 19, just a few days after the business announced that it would purchase a software-design startup called Figma for almost $20 billion. Since the announcement of the acquisition, the shares of Adobe (Adobe stock) have fallen by almost 23 percent.
According to the daily disclosure provided by ARK for Monday, the company’s flagship fund, ARK Innovation (ARKK), purchased 83,082 shares of robotic-process automation company UiPath (PATH) for around one million dollars. According to FactSet, the ARK Innovation ETF has seen a loss of sixty percent so far in 2022.
The ARK Genomic Revolution ETF ARKG –2.92% (ARKG) recently purchased 125,816 shares of the biopharmaceutical business Nurix Therapeutics (NRIX), despite the fact that the stock price of NRIX has dropped by 30% during the previous month. It sold 208,443 shares in Signify Health (SGFY), which were valued at $6.1 million at Monday’s closing price. This comes after the home-health business agreed in early September to be bought by CVS, which caused the shares to increase rapidly in value ( CVS ).
According to FactSet, the ARK Next Generation Internet ETF has had a loss of 61% so far in 2022, while the ARK Genomic Revolution ETF has experienced a loss of 46%.
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Author Valerie Remorosa 
