Cathie Wood's Ark Invest Added Shares Of Palantir, Twitter, And Sold Apple, Facebook On Friday
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Cathie Wood made some more moves in tech for her Ark Invest portfolio on Friday.
Wood, founder and CEO of ARK Investment Management, is a big name in the investment world — her company's portfolios have been bringing in returns of more than 100%.
See Also: Cathie Wood Talks Innovators And Disruptors.
What Happened: On Friday, during a volatile day of trading that saw the SPDR S&P 500 ETF Trust (NASDAQ: SPY) break below the $380 mark in after-hours trading, Ark Invest was bullish and bearish on certain tech names.
Ark Invest dipped once again into Palantir Technologies Inc (NYSE: PLTR), with the fund adding 3,365,400 shares to its portfolio, according to data on Benzinga Pro.
Palantir makes big data analytics software used by the United States government, among other customers. In 2008, Palantir released Gotham, a data analytics platform for the U.S. government’s intelligence and defense sectors.
Shares of Palantir jumped nearly 3% to $24.55 in Friday’s after-hours session following Ark’s posting of the big buy.
See Also: How To Buy Palantir Stock
Other Ark Moves: Ark also added 497,050 shares of social media giant Twitter Inc (NYSE: TWTR) on Friday.
Twitter shares were trading higher following the company's Thursday analyst day event, in which it shared a bullish three-year forecast. Multiple analysts on Friday raised their price targets on the stock. Additionally, the stock may be reacting to a new paid Super Follow feature.
Shares of Twitter ended main trading hours on Friday up roughly 3% at $77.06 per share, and then rose to 77.25 in the after-hours session.
Meanwhile, Ark went in the opposite direction for the likes of Apple Inc (NASDAQ: AAPL) and Facebook, Inc. Common Stock (NASDAQ: FB), with the fund selling 551,131 and 71,281 shares, respectively.
Shares of several technology companies were trading lower this week along with the overall market as higher bond yields put pressure on growth stocks and other equities.
By close of trading Friday, Apple was trading slightly higher by 0.22% to $121.26 a share and Facebook higher by 1.15% at $257.62 a share.
Photo courtesy: Cory Doctorow via Flickr
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