On Monday, Cathie Wood-led Ark Invest made notable trades, including a significant purchase of Bullish shares and a sell-off of Palantir Technologies Inc ( PLTR ) stock.

The Palantir Technologies ( PLTR ) Trade

Ark Invest reduced its holdings in Palantir Technologies Inc ( PLTR ) by selling 38,338 shares through ARK Innovation ETF ( ARKK ) . This move comes after Palantir’s impressive third-quarter earnings report, which saw the company exceed analyst expectations. Palantir ( PLTR ) reported a revenue of $1.18 billion, surpassing the anticipated $1.09 billion, and adjusted earnings of 21 cents per share, beating the forecasted 17 cents per share. The company’s U.S. commercial revenue soared by 121% year-over-year, reaching $397 million.

Despite this positive performance, Ark Invest decided to trim its position. At the close of trading on Monday, Palantir’s stock was priced at $207.18, making the value of the shares sold approximately $7.9 million.

Notably, Cathie Wood's Ark has been offloading Palantir ( PLTR ) stock, selling about $3.9 million worth of shares on Thursday alone. The firm executed multiple transactions over the past week, unloading millions of dollars' worth of shares.

The Bullish Trade

Ark Invest made a substantial investment in Bullish , acquiring a total of 238,346 shares across ARKK, Ark Fintech Innovation ETF , and ARK Next Generation Internet ETF . This purchase follows Bullish’s remarkable IPO, which saw its stock open significantly above its initial offering price.

Bullish, a cryptocurrency exchange backed by billionaire Peter Thiel, has been a focal point for Ark Invest since its IPO surge.

The stock closed at $50.26 on Monday, valuing Ark’s purchase at approximately $11.9 million.

Other Key Trades

Beam Therapeutics Inc (BEAM): Ark Invest bought 56,833 shares through ARKG and 279,424 shares through ARKK.

Roku Inc (ROKU): Sold 21,793 shares through ARKK.

Guardant Health Inc (GH): Sold 13,426 shares through ARKG.

Benzinga’s Edge Stock Rankings indicate Palantir ( PLTR ) stock has a Momentum in the 97th percentile. Here is how PLTR is ranked on other metrics.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal