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Cathie Wood Sells $13.15M Worth Of Coinbase Shares Amid Bitcoin Flirting With All-Time High Levels — Shops For Palantir Stock Instead

Author: Benzinga Neuro | March 08, 2024 02:40am

On Thursday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc (NASDAQ:COIN) and Palantir Technologies Inc (NYSE:PLTR) being the most prominent.

The Coinbase Trade

Ark Invest sold a substantial number of Coinbase shares across three of its funds: ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF).

The total number of shares sold was 54,215. The transaction was valued at $13.15 million. This move came as Bitcoin (CRYPTO: BTC) was nearing a new all-time high, flirting with the $69,000 mark. Coinbase shares closed at $242.62, up 1.71% for the day.

Trending: Bitcoin To $100,000? Here’s what gold bug Peter Schiff said could happen on Anthony Pompliano’s podcast.

The Palantir Trade

On the other hand, Ark Invest bought 19,749 shares of Palantir, worth $522,558, for its ARK Space Exploration & Innovation ETF (BATS:ARKX).

This decision comes amid Jim Cramer’s strong buy recommendation for Palantir on his “Lightning Round” segment. Palantir shares closed at $26.46, up 1.15% for the day.

See Also: Shiba Inu Burns 100M Tokens In Single Transaction: ‘Another 120% Move From Here,’ Predicts Trader

Other Key Trades:

  • Ark Invest bought 74,00 shares of JSC KASPI.KZ ADR (NASDAQ:KSPI) and 28,503 shares of Toast Inc (NASDAQ:TOST) for its ARKF fund.
  • It also bought 89,602 shares of SoFi Technologies Inc (NASDAQ:SOFI) for ARKF and 636,269 shares for ARKK.
  • For its ARKG fund, Ark Invest bought 14,650 shares of 908 Devices Inc (NASDAQ:MASS) and 45,999 shares of Personalis Inc (NASDAQ:PSNL).
  • It also bought 36,571 shares of Roku Inc (NASDAQ:ROKU) for ARKK and 8,260 shares for ARKW. For its ARKX fund, Ark Invest bought 13,463 shares of Iridium Communications Inc (NASDAQ:IRDM) and 3,390 shares of Teradyne Inc (NASDAQ:TER).

Photo via Ark Invest.

Read Next: ‘DOGE Will Go… Possibly To $100:’ Crypto Analyst Predicts Dogecoin Will Skyrocket In Event Of ‘Hyperbitcoinization’

Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Posted In: $BTC ARKF ARKK ARKW ARKX COIN IRDM KSPI MASS PLTR PSNL ROKU SOFI TER TOST


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