Palantir Technologies (PLTR) Surges 3.1% on High Volume; Largest Shareholder Vanguard Group Holds $2.9 Billion Stake

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.