Cathie Wood Dumps $12 Million of Palantir Stock in Two Days

This article first appeared on GuruFocus.

Cathie Wood’d ARK Invest reduced its position in Palantir Technologies (NASDAQ:PLTR) by about $12.3 million through sales made on Oct. 14 and Oct. 15.

The investment firm sold 31,432 shares on Wednesday, Oct. 14, with the transaction valued at about $6.3 million. It then sold another 29,957 shares on Thursday, Oct. 15, worth roughly $6 million. The two sessions brought its disclosed sales to 61,389 shares.

The sales featured in Cathie Wood’s weekly ARK Invest recap, which also showed reductions in Shopify, Amazon and other holdings. At the same time, the firm directed capital toward several technology and AI-related companies, including Meta Platforms, CoreWeave and Cerebras Systems.

The move places Palantir on the sell side of ARK’s latest technology allocation, even as the firm continued buying businesses tied to AI infrastructure and digital platforms. The trade report does not identify a specific reason for reducing Palantir exposure, and the transactions alone do not establish whether ARK’s view of the company’s longer-term prospects has changed.