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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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Comment57

  • Ironman2002
    ·2022-02-20
    Probably have to hold for sometime 
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  • LWKJKK
    ·2022-02-20
    If you realise she always release news to drop the price further then buy at even lower. 
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  • 74rk
    ·2022-02-20
    Reply
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  • Jason_LSE
    ·2022-02-19
    Shock after shock. Learning to get use to it ..lor. [LOL] 
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  • Success88
    ·2022-02-19
    The P/E is at loss. 😬
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  • koolgal
    ·2022-02-19
    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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  • DarrenKent
    ·2022-02-19
    Does it mean we can buy it now? Haha imagine if it goes to 20. Cathie Wood will just quit lols
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  • CygnuSupreme
    ·2022-02-19
    Like
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  • JCai
    ·2022-02-19
    Shag
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  • Gladys8jk
    ·2022-02-19
    Ok
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  • Lexton
    ·2022-02-19
    Like
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  • 来人
    ·2022-02-19
    Ok
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  • 吹股神
    ·2022-02-19
    She forgotten what she said earlier, she strongly recommended PLTR when stock price above 20....i am wondering why people like to follow 大木頭
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  • Ah Deck
    ·2022-02-19
    Is palantir worth to buy now? Pls like and comoment 
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  • RS142
    ·2022-02-19
    Buy now
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  • X99
    ·2022-02-19
    In this sort of market,  stocks with negative earnings are punished severely. Probably more downside to come. 
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  • Dawang
    ·2022-02-19
    PLTR appears to be haemorrhaging on all fours. They need to stem the flight of capital and retain more profits to consolidate a firm. No products is good, if they balance the book to keep the firm afloat. 😖😣😞
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  • Mingling8885
    ·2022-02-19
    Bloody opportunist!
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  • BlueBear
    ·2022-02-18
    Is it the end for the company?
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  • Annalz
    ·2022-02-18
    Pity lady who is smart though
    Reply
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