Rising Institutional Interest in Palantir as Major Firms Increase Holdings

2 min read | November 12, 2024 04:35 PM AEDT | By Team Kalkine Media

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Sheets Smith Wealth Management invests in Palantir Technologies (PLTR)

Other institutional investors increase positions in Palantir

Palantir's institutional ownership rises to 45.65%

Sheets Smith Wealth Management has recently established a position in Palantir Technologies (NYSE:PLTR) by acquiring 8,922 shares, valued at approximately $332,000. This move highlights a growing interest in Palantir among institutional investors. The firm's new stake in the company is part of a broader trend, as several other institutions have also adjusted their holdings in the stock during recent months.

Among these, the State of Alaska Department of Revenue increased its stake by nearly 23%, adding over 68,000 shares to its position. This brings the department’s total holdings to over 370,000 shares, with a valuation exceeding $13.7 million. Heritage Wealth Management and Cyndeo Wealth Partners are also notable for their investments, with each firm acquiring new positions valued at more than $1 million and $6.3 million, respectively. Similarly, Seven Grand Managers added Palantir to its portfolio, while Silvant Capital Management raised its holdings by over 28%, acquiring more than 50,000 additional shares.

These changes contribute to an increasing institutional presence in Palantir, now accounting for 45.65% of the company's stock. Such trends signal growing institutional confidence in the company, further bolstering its standing in the tech sector.

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