Five Financial Backers Wagering Heavily on Palantir Shares Following Q1 Financial Performance
📢 Palantir's A-Game Strikes Again: Institutional Ownership Breakdown
📈 Palantir (PLTR) smashed expectations in Q1, reporting $884 million in revenue, topping estimates by a cool $21 million. The cherry on top? A healthy bump in adjusted EPS to $0.13. Not too shabby, huh? And guess what? The company's not stopping there, raising its guidance figures like there's no tomorrow.
📈 The stock surge wasn't just a flash in the pan. PLTR reached a new all-time high on June 2 and keeps climbing. Given its big league status and inclusion in key benchmark indexes, major players own a hefty stake in Palantir.
💼 Who's Investing in Palantir?
🤔Curious who's calling the shots in Palantir's boardroom? Here's a rundown of the top institutional investors making waves.
- 🏦 Vanguard: Palantir's BFF, holding 198.5 million shares (8.83%) and trimming its positions by 10.36% quarter-over-quarter. Their index-tracking funds, loving Palantir since the software maker joined the S&P 500 Index in September 2024, still own the bulk of those shares today.
- 🔗 BlackRock: Behind iShares, they own a whopping 188.2 million shares (8.37%). With a vast majority of these shares likely sitting inside passive vehicles like the iShares Core S&P 500 ETF (IVV) and the iShares Expanded Tech-Software ETF (IGV), BlackRock's ownership here will only rise as PLTR climbs.
- 🏛️ State Street: Owners of the SPDR ETFs, they hold approximately 88.4 million shares and grew their holdings by 1.2% in Q1. Because Palantir was only added to the index last autumn, State Street had to buy stock in bulk and now rebalances quarterly.
- 📈 Geode Capital: The fourth-largest holder, they own 55.4 million shares (2.46%). Sub-advisors to the Fidelity 500 Index Fund and many Fidelity target-date products, they boosted their position by 6.44% last quarter after earlier increases last year.
- 🏦 Morgan Stanley: Their wealth-management and mutual-fund arms hold 31.2 million shares, up a whopping 8.3% from Q4. They hold Palmantir inside both index-replication accounts and several actively managed growth funds. The brokerage's research desk also upgraded Palantir earlier this year, endorsing discretionary managers to add exposure ahead of earnings.
💡 Fun Fact: Did you know that institutional investors collectively own more than 49.28% of Palantir's shares? That's a pretty big chunk of the pie! 🎂
Sources: InvestorPlace, Business Insider, MarketBeat, Yahoo Finance.
Investing in Palantir is heavily influenced by technology, as institutional investors such as Vanguard, BlackRock, State Street, Geode Capital, and Morgan Stanley are significant stakeholders. Their investments, mostly in index-tracking funds, are rising due to Palantir's growing success and inclusion in key benchmark indexes. Collectively, these institutional investors own more than 49.28% of Palantir's shares, demonstrating a strong financial backing through technology-focused investments.
