Palantir Technologies surged to $76.07 per share this afternoon, but it remains 82.11% above its mean target price of $41.77. There may still be room for more downwards movement — even after today's 3.9% drop. Analysts are giving the Large-Cap Software stock on average rating of hold, with target prices ranging from $11.0 to $75.0 per share.
The stock has an average amount of shares sold short at 3.8%, and a short ratio of 0.96. The company's insiders own 5.1% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 50.9% of Palantir Technologies's shares being owned by this investor type.
Institutions Invested in Palantir Technologies
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 11% | 244,058,912 | $18,565,561,361 |
| 2024-09-30 | Blackrock Inc. | 7% | 157,918,310 | $12,012,845,793 |
| 2024-09-30 | State Street Corporation | 4% | 82,512,440 | $6,276,721,285 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 47,946,926 | $3,647,322,646 |
| 2024-09-30 | Renaissance Technologies, LLC | 2% | 38,419,240 | $2,922,551,575 |
| 2024-09-30 | Morgan Stanley | 1% | 22,827,735 | $1,736,505,794 |
| 2024-09-30 | Northern Trust Corporation | 1% | 16,188,686 | $1,231,473,339 |
| 2024-09-30 | Legal & General Group PLC | 1% | 15,483,033 | $1,177,794,315 |
| 2024-09-30 | Sumitomo Mitsui Trust Holdings, Inc. | 1% | 14,982,925 | $1,139,751,100 |
| 2024-09-30 | Bank of America Corporation | 1% | 12,907,707 | $981,889,267 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Palantir Technologies.
