Key Highlights
- On February 24, ARK Invest offloaded 1,115,771 PagerDuty shares valued at approximately $7 million, extending a multi-week selloff
- February has witnessed ARK divesting roughly 50% of its total PagerDuty stake following disappointing Q3 earnings and a 58% stock decline
- ARK acquired 15,519 Symbotic shares and 12,546 Kodiak AI shares, expanding both technology positions
- Additional reductions included 17,799 DraftKings shares and 2,300 Pinterest shares
- Wall Street maintains a Moderate Buy consensus on PagerDuty with a $14.57 average price target, suggesting 128% potential gains
Tuesday, February 24, 2026, brought another round of strategic portfolio adjustments from Cathie Wood’s ARK Invest, according to the firm’s daily ETF transaction reports.
The most significant transaction involved offloading 1,115,771 shares of PagerDuty Inc (NYSE: PD), representing approximately $7.13 million in value. One of ARK’s ETFs executed the sale.
This transaction represents part of an ongoing divestment strategy. ARK has maintained steady selling pressure on PagerDuty throughout recent trading sessions.
February’s trading activity has seen ARK reduce its total PagerDuty stake by approximately 50%. The pattern signals diminishing conviction in the company’s prospects.
The systematic selling commenced following PagerDuty’s disappointing Q3 earnings release on November 25, 2025, which included reduced forward guidance. Multiple Wall Street analysts responded by downgrading their ratings and lowering price targets.
PD stock has declined nearly 58% since that earnings announcement. A modest 2.2% rally on February 24 provided ARK with a liquidity window to reduce its exposure further.
Symbotic and Kodiak AI Positions Grow
ARK Invest acquired 15,519 shares of Symbotic Inc (NASDAQ: SYM) via its ARKQ ETF, representing $843,457 in value. Symbotic specializes in warehouse automation and robotics technology.
The purchase continues an accumulation trend. Recent sessions have shown ARK methodically increasing its Symbotic allocation.
ARK also acquired 12,546 shares of Kodiak AI Inc (NASDAQ: KDK), a software technology company, through the ARKQ ETF as well. The transaction totaled $101,246.
Both acquisitions align with ARK’s investment philosophy centered on transformative technology businesses. Kodiak AI has attracted recurring purchases from the fund throughout recent weeks.
Portfolio Reductions in Gaming and Social Media
ARK divested 17,799 shares of DraftKings Inc (NASDAQ: DKNG) via the ARKK ETF, worth $388,196. DraftKings has experienced multiple rounds of selling by ARK across recent sessions.
ARK additionally sold 2,300 shares of Pinterest Inc (NYSE: PINS) through the ARKW ETF, valued at $38,387. Pinterest exposure within ARK portfolios has decreased through several consecutive trading days.
While ARK continues reducing its PagerDuty position, Wall Street analysts maintain a more optimistic outlook. TipRanks shows PD carrying a Moderate Buy consensus rating, derived from four Buy recommendations, four Hold ratings, and one Sell rating.
Analysts project an average price target of $14.57 for PagerDuty. This target implies potential upside of 128% from present trading levels.
Symbotic stock advanced 3.59% during the session when ARK expanded its holdings, while Kodiak AI shares declined 2.11% on the same trading day.
