Dividend Stocks

5 Investors Betting Big on Palantir (PLTR) Stock

Shares of Palantir (NYSE:PLTR) stock are up by over 5% today, bringing its year-to-date return to almost 100%. This morning, the big data analytics company announced that C&A Modas S.A., a leading retail chain in the fashion world, is developing an integrated management flow system using Palantir’s Foundry platform. Foundry will help improve C&A’s supply chain through inventory efficiency and speed.

“The flow developed allowed us to optimize and speed up the entire purchase process: from the initial planning, to sending the products to the stores,” said C&A Brazil’s Bruno Ferreira. “Among the significant gains, I’d highlight the increase of sales of products that were in stock and the reduction of unnecessary overstock.”

This morning, it was also reported that Palantir would lay off 75 employees from its London location, which would account for over 8% of its U.K. workforce. Last year, the company was deciding on opening a second U.K. location in England, although a final decision has not yet been made.

Meanwhile, PLTR stock has flown higher after reporting its first-quarter earnings. Revenue tallied in at $525 million, beating the analyst estimate of $506 million. Adjusted EPS of 5 cents came on top as well, surpassing the analyst estimate of 4 cents. For Q2, Palantir forecasts $530 million of revenue at the midpoint. For the full year, revenue is expected to be between $2.19 and $2.24 billion.

5 Investors Betting Big on PLTR Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q1, 754 13F filers disclosed a stake in PLTR, a decline of 21 filers from the prior quarter. In total, these filers own 667.07 million shares, compared to 677.49 shares during Q4. In addition, 12 of these filers own Palantir in their top 10 positions.

Meanwhile, the institutional put/call ratio as of Q1 is 0.75, down from 0.79. That’s equivalent to 36.41 million puts and 48.56 million calls, implying a bullish options stance. With that in mind, let’s take a look at Palantir’s top shareholders:

  1. Vanguard Group: 164.44 million shares. Vanguard acquired 2.81 million shares during Q1.
  2. Peter Thiel, Palantir co-founder: 163.46 million shares. Thiel’s stake is accurate as of Q4 of 2022.
  3. BlackRock (NYSE:BLK): 98.63 million shares. BlackRock acquired 1.93 million shares during Q1.
  4. Renaissance Technologies: 40.61 million shares. Renaissance sold 2.38 million shares during Q1.
  5. State Street (NYSE:STT): 35.50 million shares. State Street acquired 1.04 million shares during Q1.

On the date of publication, Eddie Pan 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.

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.