5 Investors Betting Big on Palantir (PLTR) Stock Right Now

  • Palantir (PLTR) CEO Alex Karp said that the company will hire “a couple hundred people” this year.
  • Co-founder Peter Thiel is the largest shareholder of the company, although his stake is only accurate as of Q4 of 2021.
  • Shares of PLTR stock are up by more than 10% year-to-date.
PLTR stock - 5 Investors Betting Big on Palantir (PLTR) Stock Right Now

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Shares of Palantir (NYSE:PLTR) are in the green today following an encouraging statement from CEO Alex Karp at the World Economic Forum (WEF) in Davos. During the event, Karp stated that Palantir plans on hiring “a couple hundred people” this year, despite the economic slowdown and the risk of a recession. At the WEF, two-thirds of private and public sector chief economists surveyed believe that a global recession will occur this year, while 18% of them believe the chances are “extremely likely.”

The number of new hires would be in line with previous years. When asked about job cuts, the CEO said that business was going well in the U.S., the U.K. and Canada and that the company would review spending in slower markets. He added, “Things could get much, much worse, and then of course everything’s on the table.” In addition, Karp also admitted that he did not predict the severity of the coronavirus pandemic.

Meanwhile, the data analytics company has released a slew of press releases in the past month. These include a strategic partnership with Cloudflare (NYSE:NET), the introduction of a fit-for-purpose quality management system and a technology partnership with Posit.

5 Investors Betting Big on PLTR Stock Right Now

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q3, 768 13F filers reported owning PLTR stock, a decrease of two filers from the prior quarter. Meanwhile, the institutional put/call ratio tallies in at 0.92, down from 1.06. That’s equivalent to 49.11 million puts and 53.18 million calls, implying a neutral options stance. With that in mind, let’s take a look at the largest shareholders of PLTR. Please note that this list only includes investors who filed a Q3 position update. For example, co-founder Peter Thiel owns 163.46 million shares, although that figure is only accurate as of Q4 of 2021.

  1. Vanguard: 157.48 million shares. Vanguard sold 1.92 million shares during Q3.
  2. BlackRock (NYSE:BLK): 91.71 million shares. BlackRock purchased 275,375 shares during Q3.
  3. State Street (NYSE:STT): 34.87 million shares. State Street purchased 659,192 shares during Q3.
  4. Renaissance Technologies: 33.13 million shares. Renaissance purchased 4.92 million shares during Q3.
  5. Geode Capital Management: 21.85 million shares. Geode purchased 1.10 million shares during Q3.

On the date of publication, Eddie Pan held a LONG position in NET. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/5-investors-betting-big-on-palantir-pltr-stock-right-now/.

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