On Monday, Cathie Wood-led Ark Invest made notable trades involving Palantir Technologies Inc. (NASDAQ:PLTR). and Amazon.com Inc. (NASDAQ:AMZN).
The Palantir Trade
Ark Invest executed a significant sale of Palantir Technologies Inc. shares across multiple ETFs, including Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), and ARK Next Generation Internet ETF (NYSE:ARKW). The total shares sold amounted to 196,728. The trade was worth $14.93 million. This move comes amid a backdrop of mixed analyst ratings for Palantir. Recently, Morgan Stanley assigned an 'underweight' rating to Palantir, setting a price target of $60, following a 379% gain over the past year. The stock closed at $75.92 on Monday, reflecting a 4.97% decline.
Despite its strong performance in U.S. commercial and government sectors, Palantir's valuation has been a point of contention among analysts. On Sunday, CNBC host Jim Cramer indicated interest in purchasing Palantir shares for his investing club portfolio.
Palantir stock has shot up over 355% over an one-year period but is down 0.4% since 2025 began.
The Amazon Trade
In contrast, Ark Invest increased its position in Amazon.com Inc. by acquiring 39,288 shares through ARKF and ARKW. The total value of this purchase was approximately $8.94 million, based on Monday's closing price of $227.61. This move aligns with Ark's previous strategy of bolstering its Amazon holdings, as seen in recent trades.
Amazon's stock has been buoyed by positive analyst sentiment, with some forecasts predicting a potential 15% rally.
Other Key Trades:
- Ark sold 3,769 shares of Coinbase Global Inc (NASDAQ:COIN) from its ARKF fund. The transaction was valued at nearly $1.08 million.
- Sold shares of Archer Aviation Inc. from ARKK.Bought shares of Illumina Inc. across ARKG and ARKK.Acquired shares of Pacific Biosciences of California Inc. through ARKG and ARKK.Purchased shares of GitLab Inc. via ARKK and ARKW.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
