Cathie Wood Takes Profits in Palantir. Should Investors Follow Suit?

Famed investor Cathie Wood, the CEO and chief investment officer of Ark Invest who is best known for her high-flying Ark Innovation (NYSEMKT: ARKK) exchange-traded fund (ETF), was recently selling shares of Palantir Technologies (NASDAQ: PLTR). Wood originally bought the stock back in 2021 but then exited the position in early 2022. Through the ETF, she once again established a position in the stock in May 2023. Wood's ETF has been steadily selling down the stock since September 2024, although it still makes up just over a 5% position in her fund and is her fifth-largest position. Wood's selling follows the pick-up in selling by Palantir executives and insiders who began much more aggressively selling the stock in September. Palantir CEO Alex Karp has been one of the most aggressive sellers over this period, exercising options and immediately selling shares on six different occasions. Over this stretch, he has sold $1.86 billion worth of shares. Chairman Peter Thiel, meanwhile, sold over $1 billion worth of shares later in September and early October. Numerous other executives and directors have also been selling shares over this period. Let's take a closer look at Palantir to see if investors should follow suit.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool