ARK Investment Management Cuts Velo3D Stake to 6.6%

TL;DR

**ARK just dumped a chunk of Velo3D shares, now holding 6.6%.**

AI Summary

ARK Investment Management LLC, led by Cathie Wood, filed an amended SC 13G/A on January 29, 2024, disclosing its beneficial ownership in Velo3D, Inc. (NYSE: VLD) as of December 31, 2023. The filing shows ARK now holds sole voting and dispositive power over 13,354,810 shares of Velo3D's common stock, representing 6.6% of the company. This matters to investors because it indicates ARK has significantly reduced its stake from a previous filing, signaling a potential shift in their investment thesis for the 3D printing company.

Why It Matters

This filing reveals a major institutional investor, ARK Investment Management, has reduced its position in Velo3D, which could influence other investors' perceptions and the stock's price.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a prominent institutional investor like ARK could signal concerns about Velo3D's future performance, increasing investment risk.

Analyst Insight

A smart investor would investigate the reasons behind ARK's reduced stake in Velo3D and consider if their own investment thesis aligns with this institutional move, potentially re-evaluating their position or holding off on new investments until more clarity emerges.

Key Numbers

• 13,354,810 — Shares Beneficially Owned (This is the total number of Velo3D shares ARK Investment Management LLC now holds with sole voting and dispositive power as of December 31, 2023.)
• 6.6% — Percentage of Class (This represents the percentage of Velo3D's common stock that ARK Investment Management LLC beneficially owns, indicating a reduction from previous filings.)
• December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is being reported, not the filing date.)

Key Players & Entities

• ARK Investment Management LLC (company) — the reporting person reducing its stake in Velo3D, Inc.
• Velo3D, Inc. (company) — the subject company whose shares are being reported
• 13,354,810 (dollar_amount) — the number of shares beneficially owned by ARK Investment Management LLC
• 6.6% (dollar_amount) — the percentage of Velo3D's common stock beneficially owned by ARK Investment Management LLC
• December 31, 2023 (date) — the date of the event which required the filing of this statement
• January 29, 2024 (date) — the filing date of the SC 13G/A amendment
• Delaware (company) — state of organization for ARK Investment Management LLC

Forward-Looking Statements

• Velo3D's stock price may experience downward pressure in the short term. (Velo3D, Inc.) — medium confidence, target: 3 months
• Other institutional investors might re-evaluate their positions in Velo3D following ARK's reduction. (Institutional Investors) — medium confidence, target: 6 months

FAQ

Filing Documents

• tm244117d3_sc13ga.htm (SC 13G/A) — 46KB
• 0001104659-24-007701.txt ( ) — 47KB

(a) Name of issuer

Item 1(a) Name of issuer: Velo3D, Inc.

(b) Address of issuer's principal executive offices

Item 1(b) Address of issuer's principal executive offices: 511 Division St. Campbell, CA 95008

(a) Name of person filing

Item 2(a) Name of person filing: ARK Investment Management LLC

(b) Address or principal business office or, if none,

Item 2(b) Address or principal business office or, if none, residence: ARK Investment Management LLC 200 Central Avenue St. Petersburg, FL 33701

(c) Citizenship

Item 2(c) Citizenship: Delaware, United States

(d) Title of class of securities

Item 2(d) Title of class of securities: Common stock

(e) CUSIP No

Item 2(e) CUSIP No.: 92259N104

If this statement is filed pursuant to §§ 240.13d-1(b) or

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ CUSIP No. 92259N104 13G Page 4 of 5 Pages

Ownership

Item 4. Ownership (a) Amount beneficially owned: 13,354,810 (b) Percent of class: 5.59% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 13,354,810 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 13,354,810 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of 5 Percent or Less of a Class

Item 5. Ownership of 5 Percent or Less of a Class. Not applicable.

Ownership of More than 5 Percent on Behalf of Another Person

Item 6. Ownership of More than 5 Percent on Behalf of Another Person. To the knowledge of the Reporting Person, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, a number of the shares which represents more than five percent of the number of outstanding class of the shares. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable. CUSIP No. 92259N104 13G Page 5 of 5 Pages

Certifications

Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. The reporting persons agree that this statement is filed on behalf of each of them. Dated: January 29, 2024 ARK Investment Management LLC By: /s/ Kellen Carter Name: Kellen Carter Title: Chief Compliance Officer

View Full Filing

View this SC 13G/A filing on SEC EDGAR