5 Best Stocks Under $20 According to Jim Simons’ Fund

3. Palantir Technologies Inc. (NYSE:PLTR)

Renaissance Technologies’ Stake Value: $311,547,000

Percentage of Renaissance Technologies’ 13F Portfolio: 0.40%

Number of Hedge Fund Holders: 35

Share Price as of December 7: $19.69

Palantir Technologies Inc. (NYSE:PLTR) is an American tech company specializing in big data analytics. In the third quarter, Renaissance Technologies increased its stake by 1520% in Palantir Technologies Inc. (NYSE:PLTR), holding almost 13 million shares worth $311.5 million. The Palantir Technologies Inc. (NYSE:PLTR) stock accounts for 0.4% of Renaissance Technologies’ Q3 portfolio.

On November 9, Palantir Technologies Inc. (NYSE:PLTR) reported earnings for Q3, announcing an EPS of $0.04, in line with analysts’ consensus estimates. The revenue equaled $392.15 million, increasing 35.52% year-over-year, outperforming estimates by $5.86 million. 

Palantir Technologies Inc. (NYSE:PLTR) and Kinder Morgan, Inc. (NYSE:KMI) announced on December 2 a partnership deploying Palantir Technologies Inc. (NYSE:PLTR)’s data integration software platform, Foundry, in Kinder Morgan, Inc. (NYSE:KMI)’s storage operations to increase efficiency and safety, in order to optimize the company’s US based gas storage operations.

Cathie Wood’s ARK Investment Management is the largest stakeholder of Palantir Technologies Inc. (NYSE:PLTR) as of Q3, with 37.2 million shares amounting to $895.3 million. Overall, 35 hedge funds in the third quarter were long Palantir Technologies Inc. (NYSE:PLTR), up from 26 funds in the preceding quarter.