Cathie Wood-LED ARC Investment Management bought over 1.26 million shares of Palantir Technologies Inc PLTR with an estimated value of approximately $13 million based on Wednesday’s closing price.

The purchase was made through the flagship ARC Innovation ETF ARKKThe ARC Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF.

ARK’s share purchase comes on a day when shares closed over 8% higher. Palantir stock has seen strong gains over the past month, posting a return of over 17%. Shares are up over 60% year-to-date, according to Benzinga Pro.

Also read: How to buy the ARK Innovation (ARKK) ETF

Wood’s funds appear to be on a buying spree right now Peter Thiel-Co-founder Palantir is concerned, especially after the company announced strong earnings. ARK shopped last week a whopping $43 million stake in the company.

Palantir’s revenue rose 18% year over year to $525 million in the first quarter, beating the median analyst estimate of $505.6 million. The company expects full-year sales in a range of $2.185 billion to $2.235 billion versus an estimate of $2.2 billion.

What probably stood out is the CEO alex karpS In his letter to shareholders, he announced that the company expects to remain profitable each quarter through year-end. “Additionally, for the first time in our history, we achieved an operating profit in the last quarter. We generated revenue of $525 million in the first quarter, a result that exceeded our original guidance but still underestimated the magnitude of the opportunity before us,” he had said.

Big sale: Woods fund sold Shopify Inc BUSINESS Shares valued at over $5.4 million based on Wednesday’s closing price.

Continue reading: Tesla, Cisco, Nvidia, StoneCo, Take-Two: Why These 5 Stocks Are Capturing Investors’ Attention Today