Cathie Wood Is Dumping Palantir After a 48% Run. Here Is Where She Is Putting the Money
TLDR
- ARK Invest sold 139,456 Palantir shares worth roughly $26 million on August 31
- The sale is part of a pattern, following a $27M+ Palantir sale on August 21
- ARK bought $38.1 million of Block and $12.8 million of Rocket Lab with the proceeds
- Palantir shares have risen 48.3% since its Q2 results on August 3
- Analysts give Palantir a Moderate Buy rating with an average price target of $197.89
Cathie Wood’s ARK Invest has been steadily trimming its Palantir position while moving money into Block and Rocket Lab. The latest trade, made on August 31, saw ARK sell 139,456 Palantir shares worth around $26 million.
Palantir Technologies Inc., PLTR
This was not a one-off move. ARK had already sold more than $27 million of Palantir shares on August 21, along with other sales earlier in August. The pattern points to a deliberate shift rather than a single rebalancing decision.
The timing follows a sharp run-up in Palantir’s stock. Shares have climbed 48.3% since the company reported its second quarter results on August 3, and ARK appears to be locking in gains from that rally.
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