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
|2023-03-31||Vanguard Group Inc||8%||164,445,165||$2,949,323,946|
|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||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.