Cathie Wood Sells Palantir Stock After Blowout Earnings, Ark Invest Doubles Down on Cerebras Systems

On Thursday, Cathie Wood-led Ark Invest executed significant trades involving Palantir Technologies Inc. (NASDAQ:PLTR) and Cerebras Systems Inc. (NASDAQ:CBRS).

The Palantir Trade

Ark Invest made a notable move by selling shares of Palantir across its ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW). The sale involved 28,675 shares in ARKK and 15,199 shares in ARKW. At the closing price of $179.01, the total value of these transactions amounted to approximately $7.9 million.

Palantir’s stock has been on an upward trajectory, driven by impressive second-quarter results. The company reported a 93% increase in revenue and a substantial rise in operating cash flow, reaching $1.22 billion. This growth is attributed to its strong U.S. commercial division, which saw a 149% increase in revenue to $764 million. Palantir’s government-AI initiatives, particularly its collaboration with the Pentagon, have further bolstered its market position.

The Cerebras Trade

Ark Invest also made a significant purchase of Cerebras Systems Inc. shares, acquiring 83,366 shares in ARKK and 23,575 shares in ARKW. The total value of this acquisition, based on the closing price of $231.01, was approximately $24.7 million.

Recentlt, the company reported a narrower-than-expected adjusted loss of 4.5 cents per share, compared to the anticipated 17 cents per share. While sales fell short of expectations, core revenue reached a record $209.9 million, reflecting a 103% year-over-year increase. Cerebras’ strategic shift away from Nvidia dependence and its promising 2027 outlook are key factors influencing investor sentiment.

Other Key Trades

• Sold 7,384 shares of Shopify Inc. (SHOP) in ARKF, 32,458 shares through ARKK and 17,203 shares via ARKW.
• Bought 192,702 shares of Securitize Corp. (SECZ) in ARKF.
• Bought 123,842 shares of Perceptive Capital Solutions Corp. (FRNM) in ARKG.
• Sold 49,451 shares of 10x Genomics, Inc. (TXG) in ARKK and 1,720 shares through ARKG.

Benzinga Edge Stock Rankings indicate Palantir stock has a Momentum score in the 74th percentile and Value score in the 1st percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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