Cathie Wood Dumps $16 Million Worth Of Palantir Stock After Record Highs

Ark Invest, led by Cathie Wood, made significant trades on Monday. Among the most prominent was the sale of shares in Palantir Technologies Inc. PLTR, as the stock continued its upward trajectory following impressive financial results.

The Palantir Trade

On Monday, Ark Invest executed a notable trade involving Palantir selling 135,775 shares through its ARKK ETF. This move comes after Palantir’s stock reached new all-time highs following its impressive fourth-quarter earnings report. The company reported revenue of $827.52 million, surpassing analyst expectations of $775.91 million, and adjusted earnings of 14 cents per share, beating the forecast of 11 cents per share.

The stock closed at $116.65 on Monday, marking a 5.23% increase. The 52-week high for the stock is $116.76. In the after-hours trading, it was seen at $117.56. The sale of these shares amounted to approximately $15.83 million, based on Monday’s closing price. Despite the impressive financial results, Ark Invest has been strategically reducing its position in Palantir.

Other Key Trades:

Latest Startup Investment Opportunities:

• UiPath Inc. (PATH) – Sold 459,205 shares through ARKK and 33,061 shares through ARKW.
• Roku Inc.(ROKU) – Sold 78,654 shares through ARKK.
• Twist Bioscience Corp. (TWST) – Bought 268,210 shares through ARKK.
• Illumina Inc. (ILMN) – Bought 85,621 shares through ARKK and 14,846 shares through ARKG.

Image via Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal