Ken Griffin’s Q3 Stock Moves: Amazon and Palantir
Billionaire investor Ken Griffin sold 1.6 million shares of Amazon (NASDAQ: AMZN) and purchased 388,000 shares of Palantir Technologies (NASDAQ: PLTR) in the third quarter of 2024. Palantir’s stock has soared 1,030% since January 2024, while Amazon’s revenue rose 13% to $180 billion in the same period, driven by growth in its advertising and cloud computing sectors.
Palantir reported a 63% increase in revenue to $1.1 billion and more than doubled its non-GAAP earnings to $0.21 per diluted share. However, it currently trades at a staggering 119 times sales—making it the most expensive stock in the S&P 500—while Amazon’s earnings are projected to grow at 18% annually over the next three years, valuing the company at 33 times earnings.
