Cathie Wood's Ark Invest bought additional CoreWeave shares on Monday while continuing to trim its stake in data analytics software company Palantir Technologies, according to the firm's latest portfolio disclosures.

The investment firm purchased 102,280 CoreWeave (CRWV) shares through the ARK Innovation ETF and another 30,218 shares through the ARK Next Generation Internet ETF, for a combined total of 132,498 shares. At Monday's closing price of $61.12, the purchase was worth approximately $8.1 million.

The buying extends a streak of recent acquisitions. Ark bought 188,665 CoreWeave shares last Wednesday, valued at roughly $12.4 million, and 192,566 shares last Thursday, worth about $13.4 million. Because Ark publishes its ETF trades through daily portfolio disclosures, the accumulation is visible to outside observers in near real time — across the three sessions, the firm has added 513,729 CoreWeave shares worth a combined $33.9 million.

Goldman Sachs Upgrades CoreWeave

The buying coincided with a ratings change on Wall Street. Goldman Sachs analyst Gabriela Borges upgraded CoreWeave to Buy from Neutral on Monday while cutting her price target to $106 from $139. Borges said investors may be overestimating the AI cloud infrastructure provider's future cost of capital and underestimating potential gains in investment returns.

Goldman pointed to strong compute pricing as a supporting factor, noting that CoreWeave raised prices 25% in July and by another 10% in October. The bank listed financing costs and shifts in demand as risks.

Debt remains a central concern for the AI cloud infrastructure company. Yields on CoreWeave's 2031 bonds topped 16% last week, and the company carries more than $51 billion in debt and obligations. Max Frumes, global head of distressed and leveraged finance at 9fin, told Reuters that CoreWeave is “absolutely the canary in the coal mine,” adding that he expects credit to become more expensive and investor scrutiny to intensify.

CoreWeave CEO Mike Intrator defended the company's finances in an internal memo, saying its backlog more than covers its debt obligations. The gap between that backlog argument and the bond market's pricing of CoreWeave's debt has become the focal point of the debate over the company's finances.

CoreWeave shares have fallen 30% in October. Against that slide, Ark's streak of purchases offers a public, day-by-day view of institutional positioning in the stock, while the financing-cost and demand dynamics Goldman flagged — along with trading in the company's 2031 bonds — are the immediate variables for observers to track. Wall Street currently rates the stock a Moderate Buy, with 21 Buy ratings, 6 Hold ratings and 2 Sell ratings.

Ark Reduces Palantir Position

On the selling side, Ark divested 15,988 Palantir (PLTR) shares through the ARK Innovation ETF and 2,361 shares through the ARK Next Generation Internet ETF. The combined 18,349 shares were worth about $3.6 million at Monday's closing price of $194.15.

The firm has been reducing its Palantir holdings for several days, selling 31,432 shares last Wednesday for about $6.3 million and 29,957 shares last Thursday for roughly $6 million. In all, the three sessions add up to 79,738 Palantir shares sold for about $15.9 million.

The sales follow a strong run the stock. Palantir, which provides data analytics platforms to government and commercial customers, has seen its shares climb 55% since the company's early August earnings report, in which second-quarter revenue rose 93% from a year earlier. Goldman Sachs also upgraded Palantir to Buy earlier this month, with a $230 price target.

Also on Monday, Palantir announced a partnership with Knox Systems to speed up software deployment across U.S. government and defense agencies. Knox supports more than 100 AI and enterprise software applications.

Palantir holds a Moderate Buy consensus rating, with 18 Buy ratings, 4 Hold ratings and 2 Sell ratings. The average 12-month price target of $212.10 implies about 9% upside.

For both names, Ark's subsequent daily trade disclosures will show whether this week's pattern — accumulating CoreWeave while trimming Palantir — extends.

Source: CoinCentral