Cathie Wood Dumps $56M In Palantir Shares After Dismal Earnings

Benzinga2022-02-18

Cathie Wood-led Ark Investment Management on Thursday significantly lowered its exposure to Palantir Technologies Inc on the day shares of the PeterThiel-backed company plummeted after it reported worse-than-expected quarterly earnings.

The popular investment management firm sold 4.77 million shares — estimated to be worth $56.2 million based on Thursday’s closing — in the big data company.

Palantir stock closed 15.7% lower at $11.7 a share on Thursday. The stock is down 36.5% year-to-date.

Palantir reported fourth-quarter earnings of 2 cents per share before the market opened on Thursday, missing the analyst consensus estimate of 4 cents.

The software company, known for its work with government agencies, reported quarterly sales of $432.87 million, which beat the analyst consensus estimate of $417.69 million.

Ark Invest held 30.48 million shares in Palantir, prior to Thursday’s trade, implying it trimmed nearly 16% of the total stake.

The St. Petersburg, Florida-based investment management firm owns shares in Palantir via all of its active exchange-traded funds, including the flagship Ark Innovation ETF.

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Comments

Ironman2002
2022-02-20
Ironman2002
Probably have to hold for sometime
LWKJKK
2022-02-20
LWKJKK
If you realise she always release news to drop the price further then buy at even lower.
74rk
2022-02-20
74rk
買
Jason_LSE
2022-02-19
Jason_LSE
Shock after shock. Learning to get use to it ..lor. [LOL]
Success88
2022-02-19
Success88
The P/E is at loss. 😬
koolgal
2022-02-19
koolgal
Palantir share price is currently down 36%. It is a massive drop due to disappointing earnings. Hope it will recover soon. 🙏🙏🙏

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Learning to get use to it ..lor.&nbsp;[LOL]&nbsp;","listText":"Shock after shock. Learning to get use to it ..lor.&nbsp;[LOL]&nbsp;","text":"Shock after shock. Learning to get use to it ..lor. [LOL]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097049354","repostId":1194989459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097029480,"gmtCreate":1645274600359,"gmtModify":1676534015000,"author":{"id":"4101948424484190","authorId":"4101948424484190","name":"Success88","avatar":"https://static.itradeup.com/news/4408e1a22d73e99adb53aa65dde8ad91","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":4,"crmLevelSwitch":0},"htmlText":"The P/E is at&nbsp;loss. 😬","listText":"The P/E is at&nbsp;loss. 😬","text":"The P/E is at loss. 😬","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097029480","repostId":1194989459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097030732,"gmtCreate":1645253421056,"gmtModify":1676534013961,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1},"htmlText":"Palantir share price is currently down 36%.&nbsp; It is a massive drop due to disappointing earnings.&nbsp; Hope it will recover soon. 🙏🙏🙏","listText":"Palantir share price is currently down 36%.&nbsp; It is a massive drop due to disappointing earnings.&nbsp; Hope it will recover soon. 🙏🙏🙏","text":"Palantir share price is currently down 36%. It is a massive drop due to disappointing earnings. Hope it will recover soon. 🙏🙏🙏","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":22,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097030732","repostId":1194989459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":229,"commentSize":57,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1194989459"}