SPECIAL REPORT The Top 7 Stocks for 2024

5 Investors Betting Big on Palantir (PLTR) Stock


  • Palantir (PLTR) stock has enjoyed an excellent year and has plenty of room to run.
  • Wall Street isn’t done getting behind this dynamic artificial intelligence (AI) and data analytics winner.
  • Institutional investment in the company is rising as PLTR stock continues to climb.
PLTR stock - 5 Investors Betting Big on Palantir (PLTR) Stock

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The new artificial intelligence (AI) gold rush launched by ChatGPT minted a new class of stock market winners this year. While much of the focus has centered around Nvidia (NASDAQ:NVDA) reaching a trillion-dollar market capitalization, smaller companies have also demonstrated impressive growth. One such name is Palantir (NYSE:PLTR).

This dynamic innovator in the data analytics space has implemented AI across its holdings, helping result in PLTR stock surging more than 220% year-to-date (YTD). Now, the company is well-positioned to continue scaling operations and expanding its share of its lucrative market. As InvestorPlace contributor Chris MacDonald reports:

“In recent years, Palantir’s revenue surged, hitting $1.9 billion in 2022, up by 23.6% from 2021. Originally serving the U.S. Intelligence Community, Palantir now provides potent data analytics tools, specializing in AI and ML, aiding enterprises and government agencies in extracting insights from their data. Platforms like Foundry and Gotham leverage AI and ML for data integration, analysis, and visualization, offering diverse analytics services for potential expansion into new markets.”

On top of all that, PLTR stock is on track to close at its highest price in two years. So, it’s no surprise that institutional investors are doubling down on PLTR stock.

For one, the number of funds holding shares of Palantir rose 1.4% this quarter to 870. Likewise, the count of 13F shares jumped by almost 10% in the third quarter to 805.89 million shares. Ownership percentage is also up more than 8% and increased positions rose 7% quarter-over-quarter. Finally, the put/call ratio for Palantir has been declining steadily, indicating that bearish sentiment is falling.

With that said, let’s take a look at the top investors staking bets on this AI winner.

PLTR Stock: Top 5 Investors

  • Vanguard Group: 187.33 million shares. Vanguard increased its PLTR stock stake by 18.75 million shares during the third quarter.
  • Peter Thiel: 163.46 million shares. The co-founder sold off just one share of Palantir in Q4 2022.
  • BlackRock (NYSE:BLK): 105.47 million shares. BlackRock bought 2.42 million shares during Q3.
  • Renaissance Technologies: 43.60 million shares. Renaissance added 3.80 million shares during Q3.
  • State Street (NYSE:STT): 37.01 million shares. State Street purchased 1.20 million shares during Q3.

On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.

Article printed from InvestorPlace Media, https://investorplace.com/2023/11/5-investors-betting-big-on-palantir-pltr-stock-4/.

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