Understanding the Reasons Behind the PLTR Stock Sell-Off

Shares of Palantir Technologies fell to $23.31 during today's evening trading session. Despite the -2.0% change, the Large-Cap Software company still trades 8.67% above its average analyst target price of $21.45. So there may be further downside for the Software stock. Palantir Technologies has target prices ranging from $9.0 to $35.0 per share, and its average rating is hold.

Palantir Technologies's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 3.9%. The stock's short ratio is 1.52. The company's insiders own 5.19% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 41.8%. In conclusion, we believe there is mixed market sentiment regarding Palantir Technologies.

Institutions Invested in Palantir Technologies

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 9% 196,834,580 $4,588,213,954
2024-03-31 Blackrock Inc. 5% 112,682,563 $2,626,630,483
2024-03-31 Renaissance Technologies, LLC 2% 47,355,217 $1,103,850,082
2024-03-31 State Street Corporation 2% 40,117,110 $935,129,812
2024-03-31 Geode Capital Management, LLC 1% 29,463,428 $686,792,490
2024-03-31 Morgan Stanley 1% 18,043,459 $420,593,019
2024-03-31 Sumitomo Mitsui Trust Holdings, Inc. 1% 14,571,224 $339,655,223
2024-03-31 Shaw D.E. & Co., Inc. 1% 13,482,635 $314,280,214
2024-03-31 ARK Investment Management, LLC 1% 12,745,476 $297,097,038
2024-03-31 Jane Street Group, LLC 1% 12,674,700 $295,447,250
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.