- The stock price of Palantir Technologies Inc (NYSE: PLTR) has increased from $15.91 to $17.85 (+12.19%) today. Why did it happen? Here is a likely explanation.
Today the stock price of Palantir Technologies Inc (NYSE: PLTR) increased from $15.91 to $17.85 (+12.19%). And it is believed that one of the biggest triggers was what was revealed in 13-F filings where it shows several hedge funds have a stake in the company.
Soros Fund Management also had a stake in PLTR, but sold it already. Soros decided to sell its stake in Palantir since it does not approve of the company’s business practices.
Soros Fund Management made the investment at a time when “the negative social consequences of big data were less understood,” said the hedge fund in a statement to CNN. Initially, Soros made an early-stage investment in 2012.
As of September 30, Point72 Asset Management owned 29.9 million shares (2% stake in the company). Anchorage Capital has 2.9 million shares of Palantir. And Third Point Management has 2.4 million shares of Palantir.
Disclosure: I have a small PLTR position in my stock portfolio.