Investing
Cathie Wood's Ark Invest Buys Over 3 Million Palantir Shares
Published:
Last Updated:
Two of Cathie Woods Ark ETFs bought over 3 million shares of Palantir Technologies Inc. (NYSE: PLTR). It has been battered by poor earnings and the tech sell-off. However, it has been a long-term holding of Ark Invest ETFs, and Wood has spoken well of management.
ARK Innovation ETF (NYSEARCA: ARKK) bought 2,497,800 shares of Palantir. ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 867,600.
Palantir shares have traded flat this year after a large run-up.
Recently, 24/7 Wall St. reported:
Palantir Technologies Inc. (NYSE: PLTR) was upgraded to Buy from Neutral at Goldman Sachs, which also raised its price target to $34 on Wednesday. The firm appears to be bucking the trend here, as other analysts have been less enthusiastic lately. The software company posted strong results, but with a weak revenue forecast, and shares pulled back as the lockup period expired.
The consensus price target of $25.83 suggests that the analysts see no upside, even after shares retreated around 9% in the past week. Shares have traded as high as $45.00 and as low as $8.90 since coming public via a direct listing last year.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
