Cathie Wood-led Ark Investment Management on Wednesday snapped up 134,250 shares, estimated to be worth about $11.09 million, in Roblox Corp(NYSE:RBLX) on the dip.
Shares of the company closed 8.03% lower at $82.59 on Wednesday after the company reported a decline in users and their spending on the online entertainment platform.
The company announced Tuesday after-hours that daily active users were 43 million in May, up 28% from the same month last year and down 1% from 43.3 million in April.
The New York-based investment firm bought the shares of the company via the Ark Next Generation Internet ETF (NYSE:ARKW). No other ETF holds the shares of the company.
ARKW holds a total of 617,418 shares, worth about $55.44 million in the San Mateo, California-based company.
Roblox’s online entertainment platform offers a wide range of games for kids, teens and adults. The popular platform allows users to interact with each other.
Some of the other key sells on Wednesday included Takeda Pharmaceutical Co Ltd(NYSE:TAK) and buys include Blade Air Mobility(NASDAQ:BLDE).
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