BlackRock Discloses 10% Stake in Palantir Technologies
Ticker: PLTR · Form: SC 13G · Filed: Jan 31, 2024 · CIK: 1321655
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, stake-disclosure
TL;DR
**BlackRock just revealed a 10% stake in Palantir, a big vote of confidence!**
AI Summary
BlackRock Inc., a major investment firm, reported on January 31, 2024, that as of December 31, 2023, it beneficially owns 10.0% of Palantir Technologies Inc.'s Class A Common Stock. This represents a significant stake, totaling 220,103,426 shares. This matters to investors because BlackRock's substantial holding indicates their confidence in Palantir's long-term prospects, potentially signaling stability and institutional backing for the stock.
Why It Matters
BlackRock's large stake in Palantir signals strong institutional confidence, which can reassure current and potential investors about the company's stability and future growth potential.
Risk Assessment
Risk Level: low — This filing indicates a large institutional investor has a significant stake, which generally reduces volatility and adds stability.
Analyst Insight
A smart investor would view BlackRock's substantial 10% stake as a positive signal, potentially indicating long-term value and stability for Palantir, and might consider further research into Palantir's fundamentals.
Key Numbers
- 10.0% — Percentage of Class A Common Stock owned (Represents BlackRock's significant ownership stake in Palantir.)
- 220,103,426 — Total shares beneficially owned (The exact number of Palantir Class A Common Stock shares BlackRock holds.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Palantir Technologies Inc. (company) — the subject company whose shares are being reported
- 220,103,426 (dollar_amount) — number of shares beneficially owned by BlackRock
- 10.0% (dollar_amount) — percentage of Class A Common Stock owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- January 31, 2024 (date) — filing date of the SC 13G
Forward-Looking Statements
- BlackRock will maintain or increase its stake in Palantir over the next year. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person in this SC 13G filing is BlackRock Inc., as stated in the 'FILED BY' section of the filing.
What is the subject company whose securities are being reported?
The subject company is Palantir Technologies Inc., identified under the 'SUBJECT COMPANY' data and 'Name of Issuer' on the Schedule 13G form.
What percentage of Palantir Technologies Inc.'s Class A Common Stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 10.0% of Palantir Technologies Inc.'s Class A Common Stock, as indicated in the filing.
As of what date was the ownership percentage calculated?
The ownership percentage was calculated as of December 31, 2023, which is the 'Date of Event Which Requires Filing of this Statement'.
What is the CUSIP number for the securities reported in this filing?
The CUSIP number for the Class A Common Stock of Palantir Technologies Inc. is 69608A108, as listed on the Schedule 13G form.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 31, 2024 regarding Palantir Technologies Inc. (PLTR).