Cathie Wood’s ARK Invest sold approximately $7.9 million in Palantir Technologies stock on August 13, 2026, continuing a series of profit-taking moves after the data analytics firm’s blowout earnings report drove shares up more than 30% in a single month.
The sale involved 28,675 shares in the ARK Innovation ETF (ARKK) and 15,199 shares in the ARK Next Generation Internet ETF (ARKW), executed at a closing price of $179.01 per share, according to trading records reviewed by Benzinga.
Palantir reported record Q2 2026 results on August 3, with revenue surging 93 percent year-over-year to $1.935 billion and adjusted earnings per share of 41 cents, beating analyst estimates of 35 cents. The company’s U.S. commercial revenue soared 149 percent to $764 million, and management raised full-year 2026 guidance to $8.15 billion to $8.16 billion in revenue. The stock jumped approximately 29 to 30 percent on the earnings announcement.
Wood’s latest sale is part of a broader pattern of trimming Palantir into strength. ARK funds sold $11.4 million of Palantir shares on August 5 and 6, right after the initial earnings-day jump, and another $7.9 million on August 13, bringing total post-earnings sales to approximately $21 million across multiple days, according to TheStreet’s analysis of ARK’s daily trading disclosures.
This contrasts sharply with Wood’s buying activity earlier in 2026. In April, when Palantir shares had fallen nearly 30 percent year-to-date, ARK purchased approximately $11 million worth of Palantir stock across its funds, according to reporting by The Daily Upside and Barron’s. That move signaled Wood’s conviction in the stock at depressed valuations, but the subsequent rally has prompted her to lock in gains.
Wood’s strategy of selling rallies in her core holdings reflects her broader investment philosophy. She actively manages her positions across her suite of ETFs, which focus on high-growth sectors including artificial intelligence, blockchain, biomedical technology, and robotics. According to TheStreet, Palantir is currently the 10th largest holding in the ARK Innovation ETF, representing 3.59 percent of the fund’s portfolio as of August 14, 2026.
Despite the recent rally, Palantir remains down 2.09 percent year-to-date, trailing the S&P 500’s gain of 13.74 percent through mid-August. Wall Street analysts responded positively to the earnings, with UBS raising its price target to $220 from $200 and Citi raising its target to $245 from $200, both maintaining buy ratings. Citi analysts noted that the results showed “no signs of competitive pressures affecting performance” and highlighted Palantir’s strength in enterprise demand for “AI sovereignty.”
Sources
- TradingView / Benzinga — Details of the August 13 Palantir sale ($7.9 million), share counts, ETF names, and closing price
- TheStreet — Comprehensive coverage of Wood’s total Palantir sales (August 10, 12, and 13; $11.6 million total), Palantir Q2 earnings details, analyst price targets from UBS and Citi, and Palantir’s ranking in ARKK
- Palantir Investor Relations — Q2 2026 earnings report with 93% revenue growth, adjusted EPS of $0.41, U.S. commercial revenue growth of 149%, and full-year guidance raise
- The Daily Upside — ARK’s $11 million Palantir purchase in April 2026 when shares were down ~30% year-to-date
- Barron’s — Confirmation of ARK’s April 2026 Palantir buy and context on Wood’s dip-buying strategy
- Yahoo Finance — Palantir stock performance data and post-earnings rally magnitude
