Ark Invest, which is led by CEO Cathie Wood, has been making some interesting moves on the heels of recent earnings reports. While the firm opted to reduce holdings in streaming technologies specialist (NASDAQ: ROKU) on Monday, it increased holdings in Block (NYSE: SQ).

Notably, both Roku and Block delivered significant beats and encouraging guidance with their recent third-quarter releases. Why is Wood selling one and buying the other?

Roku published its Q3 results on Nov. 1 and posted overall results and guidance that crushed the market's expectations despite recording earnings that fell short of Wall Street's target. The streaming company recorded a loss per share of $2.32 on sales of $912 million, while the average analyst estimate had called for a per-share loss of $1.93 on revenue of $855.66 million.

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Source Fool.com