Cathie Wood’s Ark Investment Management sold 11,761,901 shares of Palantir Technologies Inc PLTR worth nearly $123.3 million — based on the stock’s Tuesday closing.
Palantir shares ended Tuesday’s regular session 4.9% lower at $10.48. The Peter Thiel-co-founded company’s shares were mostly unchanged in the after-hours trading.
See Also: How To Buy Tesla (TSLA) Shares
Palantir missed earnings estimates earlier in the month for the fourth quarter, following which Wood has been on a dumping spree. On Feb.18, Ark sold 13.5 million shares of Palantir worth an estimated $148.9 million.
Wood’s latest sale of PLTR shares came on a day when the company announced a partnership with the U.S. Centers for Disease Control and Prevention centered around a fight against COVID-19.
Ark also purchased 24,366 shares of Tesla Inc TSLA, worth $20.02 million, on Tuesday.
Tesla shares rose 1.15% to $831 in the after-hours trading on Tuesday. The shares ended the regular session 4.1% lower at $821.53.
The Elon Musk-led automaker is Ark Invest’s largest holding across funds. The market value of shares held by Ark was worth $1.32 billion at Tuesday’s closing.
Tesla shares fell along with other automotive names on Tuesday as investors weighed in the potential impact of rising Russia-Ukraine tensions.
Read Next: Tesla Restaurant And Drive In-Theater Planned For Q2 In Hollywood And Could Accept Dogecoin
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
