Software3 min read183d ago
ARK Invest Purchases $11 Million of Palantir Stock Following 14% Weekly Decline
ARK Invest purchased 85,485 shares of Palantir Technologies on April 10, 2026. The trade is valued at approximately $11 million based on a closing price of $128.11. This move comes as Palantir shares face significant pressure. The stock declined 14% in the week preceding the purchase and is down 28% since the start of the year.
Palantir recently reported fourth-quarter adjusted earnings of $0.25 per share on revenue of $1.41 billion. These figures represent a 70% increase in revenue compared to the previous year. A major driver of this growth is a $10 billion contract with the U.S. Army awarded in mid-2025. Despite the recent purchase, Cathie Wood has reduced her total Palantir position by nearly 10 million shares since late 2024.
Key Takeaways
- ARK Invest bought 85,485 shares of Palantir for approximately $11 million on April 10, 2026.thestreet.com
- Palantir shares fell 14% in the week prior to the purchase and are down 28% year to date.thestreet.com
- The company reported fourth-quarter revenue of $1.41 billion, a 70% increase over the previous year.thestreet.com
- Palantir holds a contract with the U.S. Army valued at up to $10 billion as of July 2025.thestreet.com
- Cathie Wood sold roughly 9.8 million Palantir shares between late 2024 and the end of 2025.thestreet.com
