Software company Palantir Technologies (PLTR) stock has been sliding recently due to several concerns. The stock has dropped around 13% in the last five trading days. Reports suggest the Pentagon plans to cut the U.S. defense budget by 8% per year over the next five years, which could hurt Palantir’s government revenue. Adding to the pressure, Jefferies analyst Brent Thill reiterated a Sell rating on the stock based on concerns like slow international growth. Given these developments, it’s the right time to delve into the ownership structure of PLTR.
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Now, according to TipRanks’ ownership page, public companies and individual investors own 47.57% of PLTR. They are followed by ETFs, mutual funds, other institutional investors, and insiders at 24.4%, 15.7%, 7.35%, and 4.99%, respectively.
Digging Deeper into PLTR’s Ownership Structure
Looking closely at top shareholders, Vanguard owns the highest stake in PLTR at 9.24%. Next up is Vanguard Index Funds, which holds a 9.08% stake in the company.
Among the top ETF holders, the Vanguard Total Stock Market ETF (VTI) owns a 2.98% stake in Palantir stock, followed by the Vanguard S&P 500 ETF (VOO) with a 2.55% stake.
Moving to mutual funds, Vanguard Index Funds holds about 9.08% of MSFT, whereas Fidelity Concord Street Trust owns 1.56% of the stock.
Is PLTR a Good Stock to Buy?
Overall, Wall Street is sidelined on PLTR stock, with a Hold consensus rating based on three Buys, nine Holds, and three Sell recommendations. The average PLTR stock price target of $95.36 implies 10.27% downside risk from current levels.
