Unraveling the PLTR Stock Surge – What's Behind the Rally?

Shares of Palantir Technologies rose to $24.68 during today's morning trading session. Despite the 3.7% change, the Large-Cap Information Technology company still trades 31.92% above its average analyst target price of $18.71. So there may be further downside for the Information Technology stock. Palantir Technologies has target prices ranging from $5.0 to $30.0 per share, and its average rating is hold.

Palantir Technologies has an average level of shares sold short, at 5.3% of its total share float. The stock's short ratio (also called days to cover) is 1.08. The company's insiders own 6.2% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Institutional investors own 41.4% of Palantir Technologies's shares, which indicates they have a high level of confidence in the company.

Institutions Invested in Palantir Technologies

Date Reported Holder Percentage Shares Value
2023-12-31 Vanguard Group Inc 9% 193,805,263 $4,783,404,498
2023-12-31 Blackrock Inc. 5% 112,525,489 $2,777,297,798
2023-12-31 Renaissance Technologies, LLC 2% 43,591,426 $1,075,901,758
2023-12-31 State Street Corporation 2% 39,842,130 $983,363,510
2023-12-31 Geode Capital Management, LLC 1% 28,174,175 $695,380,885
2023-12-31 Jane Street Group, LLC 1% 22,025,989 $543,634,436
2023-12-31 Morgan Stanley 1% 21,793,001 $537,883,942
2023-12-31 Shaw D.E. & Co., Inc. 1% 20,756,567 $512,303,197
2023-12-31 Sumitomo Mitsui Trust Holdings, Inc. 1% 12,590,729 $310,758,071
2023-12-31 Legal & General Group PLC 1% 11,750,784 $290,026,969
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.