5 Most Active Stocks To Buy Now

3. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 33

Volume as of May 11: 72 million

Palantir Technologies Inc. (NYSE:PLTR) is a Colorado-based company that develops and deploys software platforms in the United States to assist public and government agencies in counterterrorism operations. About 72 million Palantir Technologies Inc. (NYSE:PLTR) shares were traded on May 11, making it one of the most active stocks to buy now. 

Palantir Technologies Inc. (NYSE:PLTR) on May 9 posted earnings for Q1, reporting an EPS of $0.02, missing consensus estimates by $0.02. Revenue for the period grew 30.81% year-over-year to $446.36 million, topping Street forecasts by $2.85 million. 

On May 10, Deutsche Bank analyst Brad Zelnick reiterated a Hold rating on Palantir Technologies Inc. (NYSE:PLTR) and lowered the firm’s price target on the shares to $11 from $15 following the “mixed” Q1 results. While the core metrics “were fine”, backlog growth decelerated significantly and Q2 guidance was below Street estimates, the analyst told investors.

According to Insider Monkey’s fourth quarter database, 33 hedge funds held long positions in Palantir Technologies Inc. (NYSE:PLTR), with collective stakes worth $1.2 billion, compared to 35 funds in the last quarter, holding stakes in the company valued at $1.6 billion. Ken Griffin’s Citadel Investment Group is a significant shareholder of the company, with 7.7 million shares worth about $141 million. 

Here is what Tao Value has to say about Palantir Technologies Inc. (NYSE:PLTR) in its Q4 2021 investor letter:

“We have no new position this quarter and have made below changes to our portfolio. We also sold Palantir (PLTR) as I identified it subject to high retail bubble risk (using above method) and are not part of our core “Mindful Compounder” holdings.”