Insiders Are Selling These 5 Stocks in 2024

4. Palantir Technologies Inc (NYSE:PLTR)

Number of Hedge Fund Investors: 44

Billionaire Peter Thiel, who co-founded Palantir Technologies Inc (NYSE:PLTR) and currently sits on Palantir Technologies Inc’s (NYSE:PLTR) board, dumped over seven million shares of Palantir Technologies Inc (NYSE:PLTR) on March 12 at $24.79 per share. Since then through March 15 the stock is down by about 5%.

Palantir Technologies Inc (NYSE:PLTR) shares are up by about 41% year to date through March 15. Palantir Technologies Inc’s (NYSE:PLTR) CEO Alex Karp recently grilled short sellers who are targeting Palantir Technologies Inc (NYSE:PLTR) in an interview with CNBC.

Karp said that short sellers are shorting a “truly great American company — not just ours — but they just love pulling down great American companies so that they can pay for their coke.”

Carillon Scout Mid Cap Fund made the following comment about Palantir Technologies Inc. (NYSE:PLTR) in its Q3 2023 investor letter:

Palantir Technologies Inc. (NYSE:PLTR)’s stock moved higher on hopes that it could win business from the U.K.’s National Health Services and as customer counts grew rapidly in the latest quarterly report for the company’s new Artificial Intelligence Platform (AIP). Palantir also won a significant new contract with the U.S. Army in September, which should last through 2026. The debate on the street is how fast Palantir can monetize its new commercial customers. After the quarter closed, the company announced an enhanced marketing deal with a major auditing and consulting firm.”