Palantir Technologies surged to $17.93 per share this afternoon, but it remains 69.52% above its mean target price of $10.58. There may still be room for more downwards movement — even after today's climb. Analysts are giving the large-cap Information Technology stock on average rating of hold, with target prices ranging from $5.0 to $18.0 per share.
The stock has an average amount of shares sold short at 7.2%, and a short ratio of 1.39. The company's insiders own 11.23% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 34.7% of Palantir Technologies's shares being owned by this investor type.
Institutions Invested in Palantir Technologies
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group Inc | 8% | 164,445,165 | $2,949,323,946 |
| 2023-03-31 | Blackrock Inc. | 5% | 98,631,611 | $1,768,957,890 |
| 2023-03-31 | Renaissance Technologies, LLC | 2% | 40,613,757 | $728,407,710 |
| 2023-03-31 | State Street Corporation | 2% | 35,503,622 | $636,757,441 |
| 2023-03-31 | Geode Capital Management, LLC | 1% | 23,712,480 | $425,283,316 |
| 2023-03-31 | Voya Investment Management LLC | 1% | 22,758,686 | $408,177,021 |
| 2023-03-31 | Shaw D.E. & Co., Inc. | 1% | 11,857,188 | $212,658,660 |
| 2023-03-31 | Morgan Stanley | 1% | 11,464,272 | $205,611,712 |
| 2023-03-31 | Northern Trust Corporation | 1% | 10,909,645 | $195,664,477 |
| 2023-03-31 | Legal & General Group PLC | 0% | 8,931,915 | $160,193,890 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Palantir Technologies.
