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2 Stocks ARK Invest Bought Heavily During the Recent Sell-Off

By Jose Najarro – Sep 30, 2021 at 11:00AM

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Is it time to add these super growth companies to your portfolio?

During the sell-off on Tuesday, Sept. 28, ARK Invest purchased two growth companies, UiPath (PATH -0.56%), a company making automation software robots, and Square (SQ -0.84%), a fintech company that is expanding into new regions. Today's video focuses on recent news affecting UiPath and Square and looks at current valuations for both companies. Here are some highlights from the video:

  1. On Sept. 28, ARK Invest bought roughly 519,000 shares of UiPath and approximately 205,000 shares of Square among all of its funds. As of closing on Sept. 29, UiPath is down over 38% and Square is down over 16% from their respective 52-week-high closing prices.
  2. On Sept. 28, UiPath reported expanding its partnership with Alteryx (AYX -1.12%), a company focused on analytics automation. The expanding partnership might not be a huge revenue boost for either company, but it shows that UiPath software robots can be helpful in numerous applications. In its most recent earnings, UiPath reported 60% year-over-year growth in annualized renewal run rate.
  3. In the past 30 days, Square has announced numerous expansions. The most recent partnership with TikTok allows Square sellers to send buyers from TikTok easily to a Square Online store. TikTok for business users can now quickly and easily set up a Square Online store. Square has also expanded into France and is doing an early-access program in Spain.

Click the video below for my full thoughts and analysis. 

*Stock prices used were the closing prices of Sept. 29, 2021. The video was published on Sept. 29, 2021.

Jose Najarro owns shares of Square. The Motley Fool owns shares of and recommends Alteryx, Square, and UiPath Inc. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

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Stocks Mentioned

Block, Inc. Stock Quote
Block, Inc.
$63.38 (-0.84%) $0.54
UiPath Inc. Stock Quote
UiPath Inc.
$12.42 (-0.56%) $0.07
Alteryx Stock Quote
$43.98 (-1.12%) $0.50

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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