Cathie Wood's Ark Invest Sells $14.7M Worth Of Coinbase Shares And $8.5M Worth Of Palantir Stock — Also Sells Robinhood Shares But Loads Up On AMD

On Thursday, Cathie Wood-led Ark Invest made significant trades in Coinbase Global Inc COIN, Palantir Technologies Inc PLTR, and Robinhood Markets Inc HOOD.

The COIN Trade

Ark Invest sold 69,069 shares of Coinbase from its ARK Next Generation Internet ETF ARKW and Ark Fintech Innovation ETF ARKF. The value of this trade, based on the closing price of $212.64 on the same day, stands at approximately $14.7 million.

This move comes after Coinbase’s second-quarter earnings report, which revealed a revenue beat, but a decrease in transaction revenue.

Bitcoin BTC/USD remained relatively stable while Ethereum ETH/USD dropped as major cryptocurrency firms’ earnings revealed mixed results on Thursday.

The PLTR Trade

Ark Invest, through its ARK Innovation ETF ARKK, sold 325,594 shares of Palantir. The value of this trade, based on the closing price of $26.08 on the same day, stands at approximately $8.5 million. This decision follows a period of uncertainty in Palantir’s stock, despite a recent price target increase from Citigroup.

The HOOD Trade

Ark Invest also sold 282,435 shares of Robinhood from its ARKK ETF. The value of this trade, based on the closing price of $20.24 on the same day, stands at approximately $5.72 million. This move comes ahead of Robinhood’s second-quarter earnings, which BofA analysts expect to beat estimates. The numbers are expected next Wednesday.

See Also: NVIDIA, Maplebear And 2 Other Stocks Insiders Are Selling

Other Key Trades:

• Ark Invest bought shares of Advanced Micro Devices Inc AMD through its ARKW ETF.
• Ark Invest bought shares of Aurora Innovation Inc (AUR) through its ARKQ ETF.
• Ark Invest sold shares of Trimble Inc (TRMB) from its ARKQ ETF.
• Ark Invest bought shares of 3IQ ETHER STAKING ETF (ETHQ) through its ARKW ETF.
• Ark Invest sold shares of ARK 21Shares Bitcoin ETF (ARKB) from its ARKW ETF.

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