Cathie Wood-Led Ark Invest Continues To Sell Coinbase Shares, Loads Up On Palantir Stock

Benzinga04-11

On Wednesday, Cathie Wood-led Ark Invest sold shares of Coinbase Global, Inc. and purchased those of Palantir Technologies Inc.The Coinbase trade took place amid a backdrop of an uptick in the prices of Bitcoin — the apex cryptocurrency.

The COIN Trade

Ark sold 24,141Coinbase shares through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). The company’s stock, COIN, has been climbing higher, as reported in aBenzinga article. The closing data for COIN on Wednesday, April 10, 2024, was $250.99, marking a 3.31% increase. Based on the data, the transaction amounted to $6.06 million.

The PLTR Trade

Ark Invest also made a significant move by buying shares of Palantir Technologies This decision aligns with Ark’s strategy of investing in innovative technology companies. The transaction came on a day when Palantir shares saw a slight decrease of 1.71% in its last close price of $22.42. The firm purchased 10,039 shares worth $225,074.

It should be noted that Wood-led Ark had also purchased Palantir shares a day earlier to the tune of $90,647.

Other Key Trades:

Ark Invest bought shares of Teladoc Inc. (TDOC) for its ARKF fund. It also sold stock of UiPath Inc. (PATH) from the ARKG fund.
The ARKG fund also saw the purchase of shares of Recursion Pharmaceuticals (RXRX). Ark Invest’s ARKQ fund bought shares of Iridium Communications Inc. (IRDM).
The ARKW fund saw the purchase of shares of Roku Inc. (ROKU).

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