Cathie Wood's Ark Invest Scoops Up Over $4M Worth Of Palantir, Meta Platforms Shares

On Monday, Cathie Wood’s Ark Invest made significant trades, notably in Palantir Technologies Inc PLTR and Meta Platforms Inc META.

The PLTR Trade

Ark Invest, through its ARK Autonomous Technology & Robotics ETF ARKQ, acquired 203,197 shares of Palantir. Based on the closing price of $22.83 on the same day, the value of the trade is approximately $4.6 million. This move comes ahead of Palantir’s Q1 earnings report, scheduled for May 5, 2024. Analysts expect the company to report earnings per share of 8 cents on revenue of $625.33 million, representing an increase from the previous quarter.

The META Trade

Ark Invest also showed interest in Meta Platforms buying shares across multiple ETFs. The Ark Fintech Innovation ETF ARKF fund acquired 922 shares, ARK Innovation ETF ARKK bought 5893 shares, and ARK Next Generation Internet ETF ARKW added 3000 shares. The total purchase, calculated from the closing price of $432.62, amounts to approximately $4.2 million. This comes after the Mark Zuckerberg-led company reported first-quarter revenue of $36.45 billion, up 27% year-over-year and beating the Street consensus estimate of $36.16 billion.

Other Key Trades:

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• Ark Invest sold shares of Teladoc Health Inc (TDOC) from its ARKK fund and shares of 2U Inc (TWOU) were sold from the ARKK fund.
• The ARKQ fund sold shares of Kratos Defense and Security Solutions Inc (KTOS). Ark Invest bought shares of Advanced Micro Devices Inc (AMD) for its ARKQ fund.

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