Cathie Wood-led Ark Invest trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) on Thursday, as the artificial intelligence software company’s stock continued to attract investor attention after a strong third quarter.

The Palantir Technologies Trade

ARK Invest sold 14,970 Palantir shares through its ARK Autonomous Technology & Robotics ETF (NYSE:ARKQ) and another 5,835 shares through its ARK Space & Defense Innovation ETF (NYSE:ARKX). The combined sale totaled 20,805 shares. The transactions were worth $3.95 million, based on Palantir stock’s closing price of $190.40 on Thursday.

The sales came after Palantir shares surged 60% in the third quarter, following a difficult first half for the stock. Investors have been weighing whether the company’s earnings growth and expanding artificial intelligence business can support the rally, according to a recent report on Palantir’s stock performance.

Palantir co-founder Peter Thiel said recently U.S. corporate demand for AI has accelerated “tremendously,” contrasting it with slower adoption in Europe; the IMF similarly said European firms were using AI more narrowly than U.S. companies and warned the gap could weigh on productivity. Palantir’s U.S. commercial revenue had risen sharply in recent periods, reaching $764 million in the second quarter of 2026, up 149% year over year, underscoring the company’s exposure to the accelerating U.S. enterprise AI market.

Other Key Trades

• Rocket Lab Corp. (RKLB): Ark bought 176,772 shares through ARKK, 40,800 shares through ARKQ and 15,910 shares through ARKX.
• Intellia Therapeutics Inc. (NTLA): Ark purchased 321,950 shares through ARKK and 88,961 shares through ARKG,
• BWX Technologies Inc. (BWXT): Ark bought 99,503 shares through ARKK.
• Veracyte Inc. (VCYT): Ark purchased 159,376 shares through ARKK.
• Alphabet Inc. (GOOGL): Ark sold 101 Class A shares through ARKQ.
• Zillow Group Inc. (Z): Ark sold 760 shares through ARKF.

Benzinga Edge Stock Rankings indicate Palantir stock has a Momentum score in the 88th percentile and a Growth score in the 97th percentile

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Mark Reinstein / Shutterstock.com