Cathie Wood Just Dumped $25M of Shopify — Here’s What She Bought Instead

TLDR

• ARK Invest sold 203,352 shares of Shopify worth $25.1 million across multiple ETFs
• ARK bought 28,106 shares of Meta for $18.2 million, ahead of its July 29 earnings report
• Meta stock has risen over 15% in the past month and carries a Strong Buy consensus rating
• Wall Street analysts expect Meta’s Q2 revenue to hit $60.22 billion, up nearly 27% year-over-year
• Raymond James raised its Meta price target to $850, citing its push into AI cloud services

---

Cathie Wood’s ARK Invest made two major stock moves on July 20, selling a large chunk of Shopify and buying into Meta Platforms ahead of its next earnings report.

ARK sold 203,352 shares of Shopify across its ARKK, ARKW, and ARKF funds, bringing in $25.1 million. This follows earlier sales of Shopify, suggesting ARK is steadily cutting back on its position in the e-commerce company.

On the buying side, ARK picked up 28,106 shares of Meta Platforms for $18.2 million through the same three ETFs. The purchase comes just days before Meta is scheduled to report its second-quarter 2026 results on July 29.

Meta Platforms, Inc., META

Meta stock has climbed more than 15% over the past month. Investors have responded positively to the company’s plans to lease AI computing power to outside businesses and produce its own chips to cut costs.

Meta’s AI Push Draws Analyst Attention

Meta plans to start production of its in-house AI chip, called “Iris,” in September, built in partnership with Broadcom. The move is part of a broader strategy to reduce reliance on outside hardware and expand into AI cloud services.

Raymond James analyst Josh Beck raised his price target on Meta to $850 from $825 on July 21, keeping a Strong Buy rating. Beck said Meta could use its large data centers to sell computing power to other companies, creating a new revenue stream from its AI spending.

Bank of America analyst Justin Post reiterated a Buy rating with an $835 price target on July 20. He expects strong ad demand to drive Q2 results above expectations, forecasting revenue of $60.6 billion and earnings per share of $7.50.

Post also noted that Meta’s workforce cuts in May could boost profit margins. He sees Meta’s AI tools as a driver of future ad sales and new revenue sources.

What Wall Street Expects From Meta’s Q2

BMO Capital analyst Brian Pitz held a Market Perform rating with a $720 price target. He said Meta’s recent AI launches and cloud plans have reduced some concerns, but he wants more clarity on how those investments will translate into returns.

Pitz also flagged potential risk from government-led age-verification rules that could affect Meta’s platforms.

Across 40 Wall Street analysts, Meta holds a Strong Buy consensus, based on 35 Buy and five Hold recommendations issued in the past three months. The average price target of $805.98 suggests about 25% upside from current levels.

Analysts broadly expect Meta to report EPS of $7.19 for Q2, up 0.8% from the same period last year, with revenue of $60.22 billion, a nearly 27% year-over-year increase.

Beyond the Meta and Shopify trades, ARK also bought $21.2 million worth of space company SPCX and sold shares in Iridium Communications, Baidu, Advanced Micro Devices, and Robinhood Markets.

Meta is set to report its Q2 2026 results on July 29, which will be the next major test for the stock.