Cathie Wood's ARK Invest Buys AVAV Stock Again, Trims GOOGL Stake And Sells Iridium

• ARK also sold Alphabet shares for a second straight day, following a much larger 38,273-share reduction in ARKK on Monday.
• ARK's other Tuesday trades included buying 9,070 Guardant Health shares and selling positions in Teledyne Technologies and Iridium Communications.
• Jefferies lowered its AeroVironment price target to $204 from $229 while maintaining a Buy rating, citing lower peer multiples.

Cathie Wood's ARK Invest continued building its AeroVironment (AVAV) position for a second consecutive day on Tuesday, while extending its selling in Alphabet (GOOGL) following Monday's broader trading session.

Wood added 9,037 shares of AeroVironment in the ARK Space Exploration & Innovation ETF (ARKX) on Tuesday, after buying 15,689 shares in ARKX and 13,327 shares in the ARK Autonomous Technology & Robotics ETF (ARKQ) on Monday.

The latest purchase brings ARK's two-day AeroVironment buying to 38,053 shares across ARKX and ARKQ.

ARK also trimmed Alphabet for a second straight day. The ARK Innovation ETF (ARKK) sold 93 shares Tuesday, while the ARK Next Generation Internet ETF (ARKW) sold another 201 shares. That followed a much larger sale of 38,273 Alphabet shares in ARKK on Monday.

GOOGL stock traded roughly flat in premarket trading Tuesday, while AVAV stock edged 0.6% lower. On Stocktwits, retail sentiment around AVAV trended in 'extremely bullish' territory over the past day, while sentiment around GOOGL dropped to 'bearish' from the 'neutral' zone. 

Cathie Wood Adds To AeroVironment Position

The AeroVironment buying comes after a strong run for the defense technology company in its latest earnings report. The company reported record fiscal first-quarter 2027 revenue of $480.5 million last week, driven by demand for autonomous systems and counter-UAS technology. 

The company also reported a record $1.5 billion funded backlog, up 37% year over year, and a new international LOCUST order worth more than $50 million. 

However, not everyone seems to be equally bullish on AeroVironment. On Wednesday, Jefferies lowered the firm's price target on AeroVironment to $204 from $229 but kept a 'Buy' rating on the shares. 

In a note to investors cited by TheFly, the firm said lower peer multiples were behind the target reduction. It added that greater clarity around the fiscal 2027 defense budget and incremental program awards will be important for a re-rating of AeroVironment shares.

ARK Keeps Trimming Alphabet

Alphabet, meanwhile, has now appeared on ARK's sell list for two consecutive sessions. The selling comes at a time when Google is making changes to how its engineers use artificial intelligence coding tools.

According to a Business Insider report, the company recently made one of Anthropic's strongest coding models available to engineers across the company through its internal development tool.

The move marks a change inside Google, which has generally restricted employees from using outside coding tools such as Claude Code and OpenAI's Codex, instead directing them toward its own Gemini models.

Google is also an investor in Anthropic and announced plans earlier this year to invest up to $40 billion in the AI company.

Smaller ARK Trades Round Out Tuesday

ARK's Tuesday activity also included a 313-share sale of Teledyne Technologies (TDY) in ARKQ and a purchase of 9,070 shares of Guardant Health (GH) in the ARK Genomic Revolution ETF (ARKG).

ARKX also sold 24,964 shares of Iridium Communications (IRDM), extending its portfolio adjustments in the space-focused fund.

Tuesday's trading was notably quieter than Monday's session, when ARK sold across nearly its entire crypto-linked portfolio, including its own ARK 21Shares Bitcoin ETF (ARKB), Coinbase Global (COIN), Circle Internet Group (CRCL), BitMine Immersion Technologies (BMNR) and Bullish (BLSH).

Read also: Cathie Wood's ARK Invest Sells Over 1.5M Shares Of Its Own Bitcoin ETF: Also Cuts COIN, CRCL, BMNR Exposure Ahead Of CLARITY Act Vote

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