Cathie Wood’s ARK Offloads Palantir Stake Amid Valuation Concerns
Palantir Technologies (PLTR) shares fell 14% monthly and 5% in five days despite strong Q3 results. ARK Investment Management sold 354,955 shares worth $58 million, intensifying scrutiny on the AI-data firm. Political ties to U.S. Vice President J.D. Vance and a sky-high 224.1x forward P/E ratio—versus the sector’s 22.6x—fuel investor caution.
Freedom Capital Markets analyst Almas Almaganbetov maintained a Sell rating but raised his price target to $170 from $125, acknowledging Palantir’s operational progress. The disconnect between fundamentals and valuation leaves Wall Street skeptical.