Billionaire Israel Englander Sold 90% of His Palantir Stock and Is Buying an AI Stock Partnered With Amazon and Google

Billionaire Israel Englander is the founder and CEO of Millennium Management, the second-most profitable hedge fund in history as measured by net gains since inception, according to LCH Investments. That makes him a good case study for investors.Englander sold 4.5 million shares of Palantir (NYSE: PLTR) during the third quarter, reducing his stake by 90%. Meanwhile, he also bought 2.5 million shares of Pinterest (NYSE: PINS), a company that has partnered with Amazon and Alphabet's Google to boost ad demand on its social platform. That increased Millennium's stake in Pinterest by 310%.Englander's trades align with Wall Street's outlook. Specifically, Palantir has a median target price of $38 per share, which implies 41% downside from its current share price of $64. But Pinterest has a median target of $40 per share, which implies 33% upside from its current share price of $30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool