Englander Cuts Palantir Stake by 91% While Quadrupling Tesla Holdings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 15h ago
0mins
Source: Fool
- Palantir Stake Reduction: Israel Englander's Millennium Management sold 4.5 million shares of Palantir in Q3, reducing its stake by 91%, indicating a cautious outlook on the company's growth potential despite its strong performance in the AI software sector.
- Tesla Stake Increase: In the same quarter, Millennium quadrupled its holdings in Tesla by purchasing 311,000 shares, reflecting confidence in Tesla's potential in physical AI, even as its electric vehicle market share declines.
- Palantir Financial Performance: Palantir reported a 45% increase in customer count and a 34% rise in average spend per customer in Q3, leading to a 63% revenue growth to $1.1 billion, showcasing strong demand and sustained financial health in the AI market.
- Tesla Market Challenges: While Tesla is losing market share in electric vehicles, it has substantial opportunities in physical AI, with the robotaxi market projected to grow at 74% annually, indicating long-term investment potential despite current revenue uncertainties.
Analyst Views on PLTR
Wall Street analysts forecast PLTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLTR is 187.87 USD with a low forecast of 50.00 USD and a high forecast of 255.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
3 Buy
11 Hold
2 Sell
Hold
Current: 176.860
Low
50.00
Averages
187.87
High
255.00
Current: 176.860
Low
50.00
Averages
187.87
High
255.00
About PLTR
Palantir Technologies Inc. is engaged in building software to assist in counterterrorism investigations and operations. The Company has built four principal software platforms, including Palantir Gotham (Gotham), Palantir Foundry (Foundry), Palantir Apollo (Apollo), and Palantir Artificial Intelligence Platform (AIP). Apollo is a cloud-agnostic, single control layer that coordinates ongoing delivery of new features, security updates, and platform configurations, helping to ensure the continuous operation of critical systems. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. Foundry transforms the ways organizations operate by creating a central operating system for their data. AIP enables responsible artificial intelligence (AI)-advantage across the enterprise by using primary, core components built to effectively activate large language models and other AI within any organization.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
