ARK Invest purchased approximately 149,700 shares of Snowflake.
The transaction occurred on June 18.
The total investment value reached approximately $34.76 million.
This move signals renewed confidence from Cathie Wood’s growth-focused fund.
The purchase counters recent insider selling by Snowflake executives.
SVP Vivek Raghunathan and EVP Christian Kleinerman sold shares in mid-June.
These sales followed pre-arranged trading plans to cover tax obligations from vested equity awards.
ARK’s significant position increase suggests a positive outlook from a major market player.