4. Palantir Technologies Inc. (NYSE:PLTR)
Crestwood Capital Management’s Stake Value: $17,336,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 6.72%
Number of Hedge Fund Holders: 26
Palantir Technologies Inc. (NYSE:PLTR) is a software company that aims to create platforms that integrate, manage, and secure data, while designing machines that can learn human instincts and provide insights on critical data analysis. Crestwood Capital Management holds a $17.3 million stake in Palantir Technologies Inc. (NYSE:PLTR) as of June this year, which accounts for 6.72% of the firm’s portfolio.
As of the second quarter of 2021, 26 hedge funds monitored by Insider Monkey reported owning stakes in Palantir Technologies Inc. (NYSE:PLTR), down from 32 in the preceding quarter.
Brad Zelnick, an analyst from Deutsche Bank, on November 1, kept a Hold rating on Palantir Technologies Inc. (NYSE:PLTR) with a $25 price target. While Zelnick was impressed with the tech driven AI analytics at Palantir Technologies Inc. (NYSE:PLTR), he was uncertain about the long-term economics of the business, in terms of sustainable pricing and capability to win the down-market.
Here is what Guardian Fund has to say about Palantir Technologies Inc. (NYSE:PLTR) in its Q2 2021 investor letter:
“The success of the private sector to innovate in order to help people through the lockdowns and to produce vaccines at record speed at scale has been impressive. The fact that almost every public institution was struggling to be effective no matter how hard some of the people worked, shows the fundamental need of the public sector to become data-driven and invest in data infrastructure.
Government institutions have to partner with enterprises such as Palantir to become digitalnative. The public sector will always struggle to attract the most talented engineers as compensations cannot be justified with tax money and therefore this must be a partnership with specialized private enterprises. This is a great opportunity for Palantir especially as it has already shown to be capable of working with demanding and complex public institutions entrusting it to work on the most critical and sensitive matters.
The news section of Palantir’s website gives insight into where new business is coming from. The main opportunity is in enterprise software and the faster onboarding time and increased self-service of clients is a positive sign. We believe Palantir is becoming one of the more important global software companies.
In addition, Palantir has quietly become a significant investor, investing well over USD 200 million in eight companies. Therefore, it is following the lead of companies like Tencent, Alphabet, and Shopify in establishing valuable investment portfolios.”
