ARK Invest Buys $11.15M Palantir Stake as Wedbush Holds $230 Target
ARK disclosed adding $11.15M to its Palantir stake, buying 85,485 shares across five ETFs, including 46,455 in ARK Innovation, after a 13% slump. Wedbush kept an Outperform rating with a $230 target, noting 137% U.S. commercial sales growth, 66% government segment and Anthropic’s ARR rising to $30B without denting demand.
1. ARK Invest Increases Palantir Position
ARK Investment Management disclosed a fresh $11.15 million purchase of Palantir shares, acquiring 85,485 shares across five exchange-traded funds. The largest allocation was 46,455 shares in the ARK Innovation ETF, part of ARK’s thematic strategy in enterprise software.
2. Wedbush Maintains Outperform and $230 Target
Wedbush reiterated an Outperform rating and set a $230 price target on Palantir, citing robust revenue momentum. The firm highlighted 137% year-over-year growth in U.S. commercial sales and a 66% increase in the government segment.
3. Growth Metrics and AI Competition
Palantir’s growth comes as Anthropic’s annual recurring revenue surged to $30 billion from $9 billion earlier in the year. Despite Anthropic’s rapid expansion in AI, Wedbush believes Palantir’s data-focused offerings continue to underwrite strong enterprise demand.